Ingenious Media to invest £50 million in games developments

http://www.gamesindustry.biz

One of the first large investment funds for the games industry at a time many are refusing to invest. The interesting question is where these investments will be made, £50 Million is only 10-15 games, or 2 MMORG's !

Specialist media investment firm, Ingenious Media, has announced the launch of a new venture with plans to invest up to £50 million in the interactive entertainment industry.

The company is set to establish Ingenious Games, which will become one of the largest single sources of finance for the industry, partnering with developers, publishers and merchandisers to bring a wide portfolio of games to market internationally.

Building on Ingenious' existing investment in the sector, which includes a stake in Lionhead Studios (creators of Black & White, and Fable), the company is looking to drastically expand its presence in the videogames market.

Ingenious Games will enable individuals to invest in a portfolio of video games across a range of genres and platforms, including PC, current and next-generation consoles, online gaming and mobile. The investments will be spread across development, porting, licensing, marketing and prototyping, in line with other Ingenious investments in the media industry.

Duncan Reid, Ingenious' commercial director, commented: "Now is an excellent time to invest in the games sector. The introduction of a number of new consoles later this year and increasing software sales are projected to contribute to rapid growth in the industry. We anticipate strong demand for quality games content as broadband and mobile expansion widens the appeal of games to new age groups."