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CCP Games raises $30 million to bolster virtual reality development efforts

CCP

12 Nov 2015 – Reykjavik, Iceland – Privately held CCP Games, the leader in virtual reality immersive technology, today announced that it has raised $30 million to bolster the development of virtual reality (VR) content. New Enterprise Associates led the investment, with participation from private equity firm Novator Partners LLP.

The investment will be used to further position the company to drive innovation in VR as the technology begins to transform the entertainment industry.

Harry Weller, General Partner at NEA, has joined CCP’s Board of Directors and Andrew Schoen, also of NEA, will be joining as Deputy Director.

CCP has announced two VR games slated for release in the next eight months: EVE: Valkyrie will launch with the Oculus Rift in spring 2016 and PlayStation VR in the first half of 2016 and is being created at CCP’s Newcastle studio. Gunjack, in development at the company’s Shanghai studio, is scheduled for release on Samsung’s Gear VR platform later this month.

“We believe VR will revolutionize not just videogames, but the wider technology and media industry as a whole,” said Hilmar Veigar Pétursson, CEO of CCP.  “We were there at the beginning, and this investment will give us strength to maintain our leading development efforts.”

“We’ve been admirers of CCP for quite some time,” said Weller. “Their legacy with EVE Online and early investments in VR have put them in a leadership position, and we want to partner with them to further build on the great platform they have already established.”

CCP Games was founded in 1997 in Reykjavik, Iceland. With the launch of EVE Online in May 2003, CCP established itself as one of the most innovative companies in interactive entertainment, winning numerous awards and receiving critical acclaim worldwide. CCP’s major shareholders include Novator, General Catalyst, and NEA.

More information about CCP Games can be found at http://www.ccpgames.com/


About CCP
CCP is a leading independent game developer and has been praised for its artistry, game design and unique player-driven, infinitely scalable storytelling narratives. CCP is the creator of the critically acclaimed science-fiction game EVE Online (PC/Mac), DUST 514®, a groundbreaking, free-to-play, massively multiplayer online first-person shooter for the PlayStation®3, and Gunjack™, a virtual reality action game for the Samsung Gear VR mobile platform.  The company is currently developing EVE: Valkyrie™, a multiplayer virtual reality spaceship dogfighting shooter for PCs and the PlayStation®4. Founded and headquartered in Reykjavik, Iceland, in 1997, CCP is privately held, with additional offices in Atlanta, Newcastle, and Shanghai. For more information, visit http://www.ccpgames.com.

About New Enterprise Associates  
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since inception, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. http://www.nea.com.

About Novator Partners LLP
Novator Partners is a London-based investment company led by Thor Bjorgolfsson. Over the last 10 years Novator has completed a significant number of investments in sectors including telecommunications, pharmaceuticals, technology, financial services, clean energy, consumer products and real estate. The Novator team is highly experienced in a wide range of situations – from traditional private equity to special situations including transforming investments for successful exits, and in private and publicly listed companies.

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