Bubble Gum Interactive receives first Sydney Angels Sidecar Fund co-investment
Sydney, Australia, 30th August 2011 – Bubble Gum Interactive, an independent developer of children’s online games, announced today that it has received investment from the Sydney Angels Sidecar Fund of $200,000. This is the first investment made by the fund, co-investing an amount alongside angel investor members of Sydney Angels.
The Sydney Angels Side Car fund is the first of its kind in Australia. The fund has an exclusive co-investment arrangement with Sydney Angels and will co-invest with members of Sydney Angels in eligible deals they invest in. Earlier this year the fund achieved its first close at $10M and unconditional registration as an Early Stage Venture Capital Limited Partnership, a structure which provides tax free returns to investors in the fund. The Sydney Angels Sidecar Fund is managed by Proto Investment Partners, in close collaboration with Sydney Angels.
Bubble Gum Interactive will use the investment to finalise development of “Little Space Heroes”, an original virtual universe for kids and families.
In this story-driven online game players create their own Space Hero and embark on an intergalactic adventure. Featuring character personalisation, solo and team gameplay, quests and community activities, Little Space Heroes offers kids a safe environment to explore, make new friends and have fun online. Right now, kids may create their own hero at www.littlespaceheroes.com and undertake Hero Training. Through playing fun mini-games, kids will learn to master their Jetpacks, Bubble Blasters and Starjets and be ready to blast off for adventure in the upcoming beta.
Bubble Gum Interactive was founded by children’s entertainment and gaming industry veterans. This team has extensive experience in game development, children’s entertainment, business planning, production and project management, research and design, licensing, marketing, sales and community management.
Bubble Gum Interactive Executive Producer and Technology Director Phil Mason said “We thank Sydney Angels and the Sydney Angels Sidecar Fund for their support of Bubble Gum Interactive. Their investment demonstrates the strong business potential of Little Space Heroes, our new virtual world for kids under 12.”
Jeremy Colless, a member of Sydney Angels and Managing Director of Proto Investment Partners, the Fund Manager of the Sidecar Fund said “Bubble Gum Interactive has created an amazing new gaming experience with enormous global potential. They have an excellent team covering creative, technical and business disciplines and are targeting a market that continues to grow very quickly.”
The Little Space Heroes free online virtual world for kids will be launching worldwide in late 2011.
About Bubble Gum Interactive
Bubble Gum Interactive is an independent virtual worlds and games studio headquartered in Sydney, Australia. Our mission is to create compelling and engaging gaming experiences with a focus on creativity, fun and entertainment value that help kids discover every day. Find out more about us at www.bubbleguminteractive.com.
About Sydney Angels
Sydney Angels is the leading angel investment membership group in Sydney. It is run as a not-for-profit membership organisation for its angel investor members. Members seek to invest in innovative early-stage ventures (usually Sydney-based). Sydney Angels helps its members connect with and invest in good deals and entrepreneur teams, by providing a professional and collaborative environment and disciplined investment processes. Find out more at www.sydneyangels.net.au.
About Proto Investment Partners
Proto Investment Partners is a specialised alternative investment manager, with offices in Sydney and Melbourne, focused on angel investments and early-stage venture capital. It is the licensed manager of the Sydney Angels Sidecar Fund. Find out more at www.protoinvest.com.
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