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Guildford, UK-based Lionhead Studios has announced what it describes as "a multi-million pound investment" from a consortium of three leading UK venture capital firms.

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Simon Carless, Blogger

October 19, 2004

1 Min Read

Guildford, UK-based Lionhead Studios has announced what it describes as "a multi-million pound investment" from a consortium of three leading UK venture capital firms. This major round of investment for the Peter Molyneux-headed developer, recently associated with Xbox title Fable, and currently working on projects including Black & White 2 and The Movies, was led by Ingenious Ventures and IDG VE and included technology specialist Add Partners. This move is particularly interesting, considering that venture capital firms have traditionally been leery of game development, seeing the hit-driven games industry as inherently 'risky'. Recent U.S. venture capital deals have generally occurred in relation to mobile gaming publishers (where an 'explosion' of possible profits is expected), and some MMO creators such as Turbine Software and Perpetual Entertainment (where monthly subscription fees allegedly ameliorate risk). Nonetheless, VC companies such as Ingenious Ventures, previous investors in properties such as Simon Fuller's 19 Group (pop music managers and creators of Pop Idol and American Idol) have obviously decided that the renowned Molyneux, original founder of Populous creators Bullfrog Software, is a good bet, with Antony Fraser of Ingenious Ventures commenting: "The games produced by Peter Molyneux and his team already captivate huge numbers of people around the world and we hope that, now Lionhead is producing games for consoles, there will be many more gamers who can enjoy them."

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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