Lionhead Gets Venture Capital
Lionhead Studios feeds its war chest with a few million pounds.
By Rainier Van Autrijve | Oct. 19, 2004
Lionhead Studios announced today that it has signed a multi-million pound investment agreement with a consortium of three leading venture capital firms: Ingenious Ventures, IDG VE, and technology specialist Add Partners.
In announcing the investment, Chief Executive, Peter Molyneux said: "Capital investment is necessary for any development studio wanting to create triple A titles and previously it has been the industry norm for this investment to come from publishers. However, we were attracted to a different source of funding as we felt this would give us more flexibility for future product discussions with publishers."
Antony Fraser, director of Ingenious Ventures said: "Lionhead is a leading example of British creativity. The games produced by Peter Molyneux and his team already captivate huge numbers of people around the world, and we hope [now that] Lionhead is producing games for consoles, there will be many more gamers who can enjoy them."
Ajay Chowdhury, managing partner of IDGVE, said: "The computer games industry continues to show excellent growth. Lionhead is one of the world's leading independent developers and is extremely well positioned to benefit as the technology changes in the industry allow them to create further groundbreaking games."
Following the success of Black and White, Lionhead's second game Fable so far sold over 1.2 million copies. Lionhead currently has a further four products under development with two more games scheduled for release next year.
