Friday 8th December/...Dundee, Scotland, UK -- Realtime Worlds, a leading independent video game developer, has received a $31 Million USD financing from New Enterprise Associates (NEA), one of the world's leading venture capital firms. This investment enables Realtime Worlds to build new industry-leading video game franchises and recruit top programming and game development talent from around the world.
As a result of this investment, Patrick Chung, NEA Principal, and Harry Weller, NEA Partner, will join the Realtime World board of directors. Ian Hetherington, founder of Psygnosis and former CEO of Sony Computer Entertainment Europe, will remain Chairman.
Realtime Worlds was founded by CEO and Creative Director David Jones, who created the Grand Theft Auto and Lemmings games franchises. These two franchises have reached combined global sales exceeding 70 million units, generating over $2.5 billion. The Company expects its first title, Crackdown, to be released in 2007. Realtime Worlds has established an agreement with Microsoft Game Studios to publish Crackdown for Xbox 360. All Points Bulletin, a massively multiplayer online game, will be published for the PC and for Xbox 360 by Korean online games giant Webzen.
"Extraordinary things are on the horizon for us as a result of our partnership with NEA," said Realtime Worlds founder and CEO David Jones. "We are developing a global centre of excellence for some of the world's best games developers that is really quite breathtaking. Together with NEA, we will use this investment to build on the quality of Crackdown and All Points Bulletin and to build new gaming experiences for game consoles, such as Microsoft's Xbox 360 and PC online as well."
New Enterprise Associates invested in Realtime Worlds to support the leading independent studio in a market that continues to expand exponentially. "NEA has spent three decades seeking out and backing the world's most visionary entrepreneurs," said Patrick Chung. "We are honoured to have the opportunity to work with David Jones and his team as they create revolutionary new games. We're convinced that they will continue to attract, develop and retain extraordinary talent by offering the opportunity to work alongside some of the most inventive minds in electronic entertainment."
"NEA is a thought leader in the global investment community," added Ian Hetherington, Chairman of Realtime Worlds. "The quality of this commitment is a reflection of the technological and creative ability that exists at Realtime Worlds. We look forward to the opportunities that this relationship will mean to our growth."
New Enterprise Associates (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. Since its founding in 1978, the firm has followed the same core principles: supporting its entrepreneurs, providing an excellent return to its limited partners and practicing its profession with the highest standards and respect. Practicing classic venture capital for 28 years, NEA focuses on investments at all stages of a company's development, from seed-stage through IPO. With approximately $8.5 billion in committed capital, NEA's experienced management team has invested in over 500 companies, of which more than 150 have gone public and more than 200 have been acquired. NEA has offices in Reston, Virginia, Menlo Park, California and Baltimore, Maryland. For additional information, visit www.nea.com.
About Realtime Worlds
Realtime Worlds, a software entertainment company founded in 2002, is directed by some of the video game industry's most well regarded figures. Dave Jones, creator of the Grand Theft Auto and Lemmings franchises, is joined by Tony Harman, former Director of Development and Acquisition at Nintendo of America, and by Ian Hetherington, former Managing Director of Sony Computer Entertainment Europe and founder of Psygnosis. The majority of the Company's 140 employees are based at its Dundee, Scotland headquarters. The first games will be released in 2007 and include Crackdown for Xbox 360 ( www.xbox.com/crackdown/), which will be published by Microsoft, and All Points Bulletin ( www.apb.com), which will be published for Xbox 360 and online PC by Webzen. For more information on Realtime Worlds, visit www.realtimeworlds.com.
Tom Sargent, BHPR
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New Enterprise Associates
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