Despite the financial gloom, Balderton has raised $430 million (£282 million) to invest in the media and technology sectors.
Balderton is a cheerleader for the games and online entertainment sectors. Their investments include casual games portal Big Fish, publisher Codemasters, youth social network/gaming environment Habbo Hotel, middleware provider Natural Motion and digital identity provider WeeWorld. The company recently sold Bebo, the social networking website, to AOL for $850m.
Balderton says that it sees opportunities in this tough environment, and that part of the reason for raising the money now was to be able to take advantage of them.
However, the company was more negative on the prospects for flotations, saying that there “were unlikely to be any venture capital-backed initial public offerings for 18-24 months ”
So good news that Balderton has money to invest in the games sector; bad news for Codemasters’ hopes for a quick IPO.
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