Sure Ventures PLC Follow-on Investment in WarDucks (6555T)
22 Marzo 2019 - 8:00AM
UK Regulatory
TIDMSURE
RNS Number : 6555T
Sure Ventures PLC
22 March 2019
SURE VENTURES PLC / ISIN: GB00BYWYZ460 / Ticker: SURE / Market:
SFS / Sector: Investment
22 March 2019
SURE VENTURES PLC ('Sure Ventures' or 'the Company')
Follow-on Investment in WarDucks
SURE VENTURES PLC, the London listed venture capital fund, which
invests in early stage software companies across a range of
verticals, is pleased to announce that Suir Valley Ventures ('Suir
Valley'), it which it holds a circa 23% interest, has participated
in a EUR3.3 million investment round, at a valuation of led by EQT
Ventures fund for WarDucks, the Dublin-based augmented reality
('AR') game development studio. The funds raised will be used to
drive the development of WarDucks' new location-based AR game and
expand its development team.
Suir Valley was an initial seed investor in September 2017,
investing EUR300,000 in WarDucks in the seed round and this has led
to a 4X unrealised gain. Suir Valley has followed-on and maintained
its 10% holding in the new funding round and remain supportive of
WarDucks and its future potential.
CEO Nikki Lannen, formerly a senior member of Facebook's gaming
team, founded WarDucks (www.warducks.com) in 2013 with the aim of
creating world-class content for mobile, AR and VR platforms. It
has attracted global talent to work on its latest AR game including
gaming legend John Romero as a creative consultant. Co-founder of
the BAFTA award-winning Romero Games studio and winner of more than
100 awards, Romero is best known for his work on Wolfenstein 3D,
DOOM, DOOM II and Quake. WarDucks has also hired Doug Kaufman, the
game designer behind Civilization II and Frontierville, as its lead
game designer, and Lawrence Schick, who was previously at ZeniMax
where he was Loremaster on the Elder Scrolls Online, as lead
narrative designer.
SURE VENTURES CIO, Barry Downes, said, "We are delighted to be
part of this investment round as WarDucks focuses on launching a
new location-based AR reality mobile game. Traction for these games
continues to gain momentum; for example, Pokemon Go has made $2
billion since it launched and is still making over $2 million a
day. Notably, our fellow investor EQT Ventures, discovered WarDucks
using its AI platform Motherbrain, which leverages data to identify
promising start-ups. Our on-the-ground investment team were one
step ahead having first invested in WarDucks in 2017."
- ENDS -
For further information, please visit www.sureventuresplc.com or
contact:
Gareth Burchell SURE VENTURES PLC +44 (0) 20 7186 9918
Isabel de Salis / Melissa St Brides Partners (Financial
Hancock PR) +44 (0) 20 7236 1177
Notes to Editors
SURE VENTURES PLC was established to enable investors to gain
access to early stage technology companies within the
Augmented/Virtual Reality ('AR/VR'), FinTech, Artificial
Intelligence ('AI') and Internet of Things ('IoT') sectors, which
are usually dominated by private venture capital funds. The Company
was listed on the London Stock Exchange in January 2018 and is
focused on making seed and series A investments in companies with
first rate management teams, operating within its target markets.
It then continues to support these companies as they develop and
gain market validation of their products. The Company holds a 23%
interest in entrepreneur-led venture capital fund, Suir Valley
Ventures.
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END
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