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 GTA  Creator Gets New Funding

GTA Creator Gets New Funding

December 8, 2006 | By David Jenkins

December 8, 2006 | By David Jenkins
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More: Console/PC

Representatives from Scottish developer Realtime Worlds have announced that the company has received $31 million in funding from U.S. venture capital firm New Enterprise Associates (NEA).

The new funding will be used to recruit new employees and fund development of new intellectual properties, including the previously announced Crackdown on Xbox 360 for Microsoft and All Points Bulletin on Xbox 360 and PC for Korean publisher Webzen.

Realtime Worlds was founded by CEO and creative director David Jones, who created the Grand Theft Auto and Lemmings games franchises at DMA Design, now Rockstar North. Jones is joined by Tony Harman, former director of development and acquisition at Nintendo of America and by Ian Hetherington, former managing director of Sony Computer Entertainment Europe and founder of Psygnosis.

As a result of the investment, Patrick Chung, NEA principal, and Harry Weller, NEA partner, will join the Realtime World board of directors. Ian Hetherington, founder of Psygnosis and former CEO of Sony Computer Entertainment Europe, will remain as chairman.

“Extraordinary things are on the horizon for us as a result of our partnership with NEA,” said Jones. “We are developing a global centre of excellence for some of the world’s best games developers that is really quite breathtaking. Together with NEA, we will use this investment to build on the quality of Crackdown and All Points Bulletin and to build new gaming experiences for game consoles, such as Microsoft’s Xbox 360 and PC online as well.”

“NEA has spent three decades seeking out and backing the world's most visionary entrepreneurs,” said Patrick Chung. “We are honored to have the opportunity to work with David Jones and his team as they create revolutionary new games. We’re convinced that they will continue to attract, develop and retain extraordinary talent by offering the opportunity to work alongside some of the most inventive minds in electronic entertainment."

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