(1888PressRelease)
April 03, 2008 - Berlin - Metaversum GmbH, developer and operator of the upcoming 3D virtual world Twinity, is pleased to announce a significant multi million Euro investment from Balderton Capital. Balderton Capital, formerly Benchmark Capital Europe, is one of the leading European venture capital firms, and recently sold its stakes in both Bebo and MySQL – both deals being amongst the most successful European internet/technology transactions of recent years.
Added to existing investment and support from founding VC Grazia Equity, the new relationship with Balderton Capital positions the Berlin start-up Metaversum for the global launch of its virtual world, Twinity.
Klaus Hommels, Balderton Capital's representative on the Metaversum board, comments: "Virtual worlds linked closely with reality will significantly influence the future of the Internet. Twinity is one of the most promising projects in this exciting and competitive space and we look forward to accompanying Metaversum in this endeavor."
Jochen Hummel, CEO of Metaversum, adds: "We are very glad to have won the support of an experienced international player in Balderton Capital. As we gear up to release our virtual world Twinity, the addition of our new partner puts us in a great position. "
The virtual world Twinity is currently in its private beta phase. Twinity offers its members the ability to move through the digital world using personal avatars, design their own 3D homes, communicate with friends, work or simply have fun. For additional information, visit www.twinity.com.
About Metaversum and Twinity
Metaversum develops and operates the 3D online world Twinity. This visionary endeavor mashes up the real with the virtual world. Twinity offers its members the ability to populate the digital world with their own avatars, design 3D homes, communicate with friends, engage in shared media experiences, work or simply have fun. Members of the Twinity community enrich and expand their lives by integrating real life into the virtual world. Twinity is currently in its private beta phase. Founded in July 2006 and financed by leading venture capital firms, Metaversum has offices in Berlin and Kiev. For more information: www.metaversum.com and www.twinity.com.
About Balderton Capital
Balderton Capital is one of Europe's largest venture capital firms, committed to finding and helping talented entrepreneurs build great companies. Based in London, it manages approximately USD 1.5 billion in committed venture capital. Since 2000, Balderton has invested across a wide variety of sectors and geographies, including Europe, the US and Asia. Notable investments include Bebo (the leading social networking site), Betfair (online betting exchange), Codemasters (video games developer and publisher), Habbo Hotel (teen social networking site), MySQL (open-source database business) and Setanta Sports (the European sports broadcaster). Balderton Capital approaches investment using the principles of teamwork and an intense dedication to building companies of lasting value. The partners combine Silicon Valley operating and company-building experience with a keen understanding of what it takes to build successful businesses in the European technology market.
About Grazia Equity
Grazia Equity sees itself as partner of strong entrepreneurial teams and supports them in becoming international market-leaders. Due to its strong entrepreneurial background, Grazia has a particularly good understanding of the challenges facing both early stage and late stage enterprises. Grazia manages only its own funds and is known for its pragmatic approach and quick decision making. Grazia's portfolio reaches from start-up projects to profitable enterprises with a turnover of more than € 800 million and 1,000 employees.
Find out more about Metaversum and Twinity here:
www.metaversum.com
www.twinity.com
