$31m boost for Realtime Worlds

via develop
Realtime Worlds, the UK development outfit established by the creator of Lemmings and Grand Theft Auto, has received a USD31 million cash injection.

The investment in the Dundee studio comes from New Enterprise Associates (NEA), one of the world’s leading venture capital firms and will see NEA Principal Patrick Chung and NEA Partner Harry Weller join the Realtime World board of directors. CEO and creative director David Jones and chairman Ian Hetherington will continue to head up the business.

Realtime Worlds has already signed an agreement with Microsoft which will publish Crackdown on Xbox 360 next year, while MMO All Points Bulletin for PC and 360 will be handled by Korean online games giant Webzen.

“Extraordinary things are on the horizon for us as a result of our partnership with NEA,” said 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 games consoles, such as Xbox 360 and PC online as well.”

NEA’s Chung added: “NEA has spent three decades seeking out and backing the world’s most visionary entrepreneurs. 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.”