Cambridge law firm advises Mercia Technologies on gaming investment
Cambridge law firm Mills & Reeve has advised Mercia Technologies on its investment of up to £2 million into nDreams, an existing portfolio company and rising star within Mercia Fund Management’s hybrid SEIS/EIS funds.
nDreams, a developer and publisher of virtual reality (VR) games and experiences, based in Farnborough, UK, is making titles for multiple VR platforms and the company is on track to become one of the pioneering game developers at the start of the VR market.
Since mid-2013, nDreams have been solely focused on creating innovative and remarkable VR games and experiences, having previously created content for Sony’s PlayStation Home virtual world, where they were one of the largest global publishers on the platform.
nDreams was formed in 2006 by former Codemasters and Eidos Creative Director, Patrick O’Luanaigh, with a focus on virtual worlds and alternate reality games such as Xi and Lewis Hamilton: Secret Life. The studio has already developed a number of VR titles - including SkyDIEving, Gunner, Perfect Beach and the upcoming The Assembly – and continues to work on multiple unannounced projects.
The Mills & Reeve team is nationally renowned for its specialist experience and expertise in advising and assisting on VC and angel investments in early stage and fast growth high-tech businesses. Corporate partner Zickie Lim (pictured), and principle associate, Pippa Pearce, advised Mercia Technologies on this deal.
Lim said: “We are delighted to work with Mercia Technologies again and to support its investment into this exciting business. With virtual reality tipped to break the billion dollar barrier in 2016, nDreams is well placed to exploit the opportunities in this emerging market which has the potential to revolutionise the gaming, film and television industries.”
Mark Payton, CEO of Mercia Technologies, added: “We are pleased to invest in nDreams, which is a perfect example of an “emerging star” from the Mercia Fund Management portfolio. Virtual reality looks set to become one of the most disruptive markets of 2016, and we look forward to seeing what the next year holds for nDreams and its industry-leading team.”