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Minneapolis-based Destineer (First To Fight), a developer and publisher of video games and virtual training simulations, has announced that it has secured an equit...

Simon Carless, Blogger

April 27, 2006

2 Min Read

Minneapolis-based Destineer (First To Fight), a developer and publisher of video games and virtual training simulations, has announced that it has secured an equity investment of $12 million from private-equity firm The Exxel Group. The company has announced that it plans to use the investment to help fund development of a group of unannounced games for video game consoles and PC, as well as expand the company’s distribution and product development in Latin America. Destineer was created in 2001 by former Bungie executive vice-president Peter Tamte, and is now managed by Mr. Tamte and CEO Paul Rinde, who was formerly senior vice-president at Atari. The company's brands include Destineer, used for the U.S. Marine Corps game and training sim First To Fight, Bold Games, a PC-based retail label for games including John Deere: American Farmer and the Unreal Engine-based Red Orchestra, MacSoft (Mac versions of Halo and Zoo Tycoon 2), and Atomic (the developer of First To Fight and upcoming game/'serious game' hybrid RTS Red Phoenix.) The company develops highly realistic virtual training simulations, also known as 'serious games', for government, military, and intelligence organizations around the world under the Destineer Training Systems label, with First To Fight to be used by the United States Marine Corps for training. Exxel’s investment is the second equity investment Destineer has secured outside the games industry during the past year. In mid-2005, Destineer also secured an investment from In-Q-Tel, a private venture capital firm funded by the U.S. Central Intelligence Agency. Paul Rinde, Destineer’s CEO, commented of this move: “The venture capitalists of the video game industry have traditionally been the large publishers, because they’re the ones who have funded most game development until now. But, this new trend of private-equity firms investing in the games industry gives creative companies like Destineer much more flexibility to make games the established publishers are less likely to create.”

About the Author(s)

Simon Carless

Blogger

Simon Carless is the founder of the GameDiscoverCo agency and creator of the popular GameDiscoverCo game discoverability newsletter. He consults with a number of PC/console publishers and developers, and was previously most known for his role helping to shape the Independent Games Festival and Game Developers Conference for many years.

He is also an investor and advisor to UK indie game publisher No More Robots (Descenders, Hypnospace Outlaw), a previous publisher and editor-in-chief at both Gamasutra and Game Developer magazine, and sits on the board of the Video Game History Foundation.

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