Novel product fund Vision+ announces 10 news deals including mobile games from Seepia, Hooplo and Zorg
Building on the 19 investments it announced in late 2012, it's added a further 10 deals, including several mobile games.
These include Cristiano Ronaldo Footy from UK company Hooplo, and futuristic racer AG Drive from Finnish developer Zorg.
Vision+ is also funding Finnish developer Seepia Games to bring its Habbo games Tetrablok and Pets to mobile, and working with publishers Chillingo and BulkyPix over the release of Gloomy Hollow and Redneck Revenge, respectively.
New funding method
Set up by four Finnish entrepreneurs, and minority backed by Nokia and Microsoft, Vision+ operates differently to other VC companies as it funds companies to complete specific products.
It takes a share of the revenue generated rather than an equity stake in the companies, as most VCs would do.
Each project can receive between 50,000 to 500,000, although as managing partner Tero Ojanperä explains, Vision+can take an equity position should it deem this longterm advantageous. But it's not the way it typically wants to operate.
"We thought the market needed something new," Ojanperä explains.
"In this way, we don't need to focus on the entire company. Why focus on structure when you can focus on the product? I think it fits the new industry paradigm."
Sing it loud
As well as mobile games, Vision+ looks at alternative digital sectors.
Other new investments include location-based marketing platform oikian; live video streaming music and stand-up comedy platform LiveMusicStage, as well as products covering on-demand karaoke, digital manga distribution and mobile data management.
In addition, some of the fund's initial product deals are now returning cash to the fund's investors.
The Tribeflame-developed and Fingersoft-published game Benji Bananas received 12 million downloads on Android and has since been released on iOS, while other titles Redneck Revenge and Mike Vick: GameTime have also been launched onto the Apple App Store.
"I think we've proved our model works in terms of raising money, creating deal flow and now successfully launching products," Ojanperä says.