Spark Ventures PLC announced today it has sold half of its stake in
Moshi Monsters maker Mind Candy for $4.9 million, a sale that values the London-based developer at $200 million.
London-based Mind Candy has seen its child-focused
Moshi Monsters virtual world reach
over 50 million registered players worldwide
since its launch in 2008.
The free-to-play Flash game, which is reportedly played by one-in-three British children, makes money through optional value-added memberships as well as sales of licensed toys, magazines and trading cards.
Looking at the game shortly after its beta launch,
Gamasutra's Matthew Kumar noted the game's "artistically fully realized" world and intuitive interface made it inherently attractive to new players.
70-person Mind Candy is also known for alternate reality card/online game
Perplex City, which struggled to make money after
giving a $200,000 prize to the first person to solve its myriad clues and find and return a mysterious cube hidden in the real world.
The Spark sale represents a 1400 percent return for the venture capital firm since its initial 2006 investment, alongside Accel Partners and Index Ventures.
Spark has also invested in game companies including
social/casual portal OMGPOP and
mobile developer Twistbox, though general partner Alex Finklestein
said in 2009 the company is reluctant to "invest in a hit-driven business" any further than necessary.
