Riot Games secures $8 million investment
Developer raises capital ahead of US release of free-to-play League of Legends
Riot Games has secured investment of USD 8 million from venture capital firms Benchmark Capital, FirstMark Capital and the Chinese online services company Tencent. The financing comes as the LA-based independent developer and publisher prepares to launch its first title, the free-to-play League of Legends, in the US.
"Riot is fortunate to have such a strong and diverse group of investors who support our vision of combining triple A quality gaming content with the emerging free-to-play business model," said the company's CEO Brandon Beck. "With our focus on delivering and operating core games as premium, live services that constantly adapt to our customers' needs, we have a unique opportunity to build global franchises."
Tencent is also acting as distribution partner for the game in China, as was announced earlier this year. Meanwhile, venture firms Benchmark Capital and FirstMark Capital have previously invested in Riot, contributing to a USD 7 million funding round held by the company last year.
In June this year, Riot's ranks were bolstered by two former Blizzard World of Warcraft developers. Its first game is scheduled to be released across Asia, Europe and North America later this year.
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