FunCom signs in 5 million Euro equity investment

Massively multiplayer game specialist FunCom has announced that it has received 5 million Euro of new funding from Nordic Venture Partners, following the strong E3 showing of forthcoming MMOG Age of Conan.

The Scandinavian company, which currently operates the science fiction themed MMORPG Anarchy Online, launched in 2001, received the 5 million Euro as an equity investment deal.

The firm is currently gearing up for the launch of its next PC-based massively multiplayer title, Age of Conan: Hyborian Adventures, which was showcased at E3 this year and was named in a number of publications' awards from the show.

"This is another great recognition of Funcom as Europe's premier developer of MMOGs, and serves as a tribute to the company and the quality of our games and technology," commented Torleif Ahlsand, chairman of FunCom's board.

"There is a considerable market potential for subscription-based online games, and Funcom is a leader in technology and quality within the segment," he explained. "We are very glad to have NVP on board to further develop one of the most exciting creative environments in the Nordic region, and we feel confident they will aid us in becoming even better at creating world-class online products."