Finnish games company Next Games has completed its first external investment round raising $6m in financing from institutional, strategic and private investors.
Next Games’ Series A funding round was co-led by IDG Ventures and the company’s original investor, Jari Ovaskainen, who was also an early investor in Supercell. Joining them is Lowercase Capital, making one of its first ventures into the mobile game sector.
Additional funding has also been provided by Asia based IDG Capital, AMC Networks Ventures, and freshly minted VC firm York Ventures, a recently established early-stage venture vehicle backed the by the Gores brothers, Alec, Tom and Sam; and managed by digital media entrepreneur Peter Levin.
More than a dozen individual financiers, including former Microsoft CMO Mich Mathews, Initial Capital’s Ken Lamb and eOne’s President & CEO Darren Throop, backed the startup’s business plan, as well as executives from a handful of venture capital and entertainment media companies.
Founded by design veterans from Rovio, Supercell and Disney, the company recently partnered AMC Networks to develop a mobile game based on TV drama The Walking Dead.
“Our funding was made possible by the pioneering work by established Scandinavian game development studios. It is a testament to the talent in the Nordic region where many of the most successful games in recent years have been created,” Teemu Huuhtanen, CEO of Next Games noted. “The majority of our private investment is rooted in the US and Asia, the world’s leading mobile app markets. I’m confident this diversity will lead to compelling games with broad global appeal and unique opportunities for partnerships, such as the one we currently have with AMC.”
IDG Ventures focuses on consumer internet and enterprise IT companies. with approximately $3.7bn under management and over 200 active portfolio companies in Asia and North America.
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