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EVE Online dev CCP Games raises $30 million to target VR

Venture capital and private equity firms ponying up
EVE Online dev CCP Games raises $30 million to target VR
Date Type Companies Involved Size
Nov 12, 2015 investment CCP New Enterprise Associates $30m
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Reykjavik, Iceland-based developer CCP Games has announced that it has raised $30 million in an effort to bolster the development of VR content.

Venture capital firm New Enterprise Associates contributed, with private equity firm Novator Partners LLP also participating.

The money will go towards development of the upcoming EVE: Valkyrie for Oculus Rift and PlayStation VR, Gunjack for the Gear VR, and further VR development.

Strength and legacies

“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.”

As part of the deal, 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.

“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.”

However, not everyone is so positive about VR; with Unity founder David Helgason recently warning VR developers to ensure they have 2-4 years of funding, because "VR is as risky as hell".

At least with $30 million in the bank, CCP seems to have mitigated that criticism.