Cartagena Capital acted as the exclusive financial advisor to virtual world company Metaversum in its recent funding round for Twinity
Metaversum secures financing round for international expansion with new and existing investors
Munich – July 14, 2009
Cartagena Capital, the international TMT corporate finance firm, today announces that it acted as exclusive financial advisor to Metaversum, developer of Twinity, the world’s first mirror world – a virtual world made of real people and real places - in the successful closure of another round of financing.
Existing investors Grazia Equity and Balderton Capital join BFB BeteiligungsFonds Brandenburg from InvestitionsBank des Landes Brandenburg, which is managed by BC Brandenburg Capital and KfW, in investing a total of 4.5 million Euro in this latest round of financing. Metaversum is now best prepared for the continued development of its 3D platform and its upcoming international expansion.
Metaversum is building true-to-scale replicas of the world’s big cities in its 3D online world Twinity. The cities are not the only thing that is real about Twinity. The members of the 3D community also use real profiles and realistic-looking avatars – making Twinity a mirror world. Twinity and virtual Berlin are currently in public beta testing. The launch of virtual Singapore is set to follow this summer, and London is already under construction.
The mix of local and international investors is a good reflection of the company’s strategy. The realistic virtual cities are firmly anchored in the respective region, and help open it up to the world.
Jochen Hummel, CEO & Co-Founder of Metaversum, commented, "In times such as these, a financing round like this is a great confirmation for Twinity and for our vision of building a real virtual world."
"We were immediately excited about Twinity, their business model and the people behind it and we are looking forward to the ongoing success of Metaversum and Twinity." added Falk Mueller-Veerse of Cartagena Capital.
Says Cartagena’s Jan Vocke "Cartagena Capital has a strong history in technology and telecommunication and has since expanded its expertise into the digital media, internet and media domains. Metaversum is a great example of the high calibre of companies we are working with in these areas".
Information about Cartagena Capital GmbH:
Cartagena Capital is an international corporate finance advisor with a particular focus on (wireless) communication, technology and digital media/internet. The company was created by senior industry experts and experienced investment bankers. It is providing advice in the areas of M&A, fundraising and strategy. Cartagena Capital is present in Germany, France, Finland and the US. More information can be found at www.cartagena-capital.com
Information about Metaversum and Twinity:
Metaversum develops and operates the 3D online world Twinity. The vision behind Twinity is to forge a close connection between the real and the virtual world. The mirror world Twinity is building realistic replicas of the world’s most vibrant cities in 3D, starting with Berlin, with Singapore and London set to follow soon. Twinity members can create a personal avatar, explore real cities virtually, move into a 3D home, chat with friends, work, get creative, or just have fun together.
Twinity also offers businesses new ways of engaging with real people in real virtual cities. Through virtual shops and branded presences, in-world ad campaigns, product placements, and sponsored events, Twinity lets you enter into a direct and emotional, digital dialog with your target group. Twinity is currently in public Beta. Founded in July 2006 and financed by leading venture capital firms, Metaversum has offices in Berlin/Potsdam, Kiev, and Singapore. More information can be found at www.metaversum.com and www.twinity.com
Information about Grazia Equity GmbH:
Grazia, located in Stuttgart and Munich, is one of the leading European VC companies focussing on young and highly innovative companies. Grazia’s success relies on a partnership with extraordinarily strong entrepreneurial teams to turn them into international market leaders. Since Grazia does not depend on institutional investors it is known for pragmatic and quick decisions. Grazia’s portfolio companies profit from the wide entrepreneurial background of its partner team as well as a far-reaching international network. That’s why some of America’s best VC companies trust in Grazia’s expertise by making common investments. Grazia’s partner team has supported so far more than 40 companies. www.grazia.com
About Balderton Capital:
Balderton Capital is one of the largest venture capital firms in Europe, committed to finding and helping talented entrepreneurs build great companies. Based in London, it manages $1.9 billion in committed venture capital. Since 2000 Balderton has invested in over 80 companies, principally in numerous European countries but also in the US and Asia. Balderton’s investments span a wide variety of sectors including communications, consumer services, enterprise software and services, e-commerce, mobile, semiconductors, media and financial services.
Balderton invests in innovative businesses and approaches investment using the principles of teamwork and an intense dedication to building companies of lasting value. The investment partners combine international and Silicon Valley operational experience with company-building expertise. Notable investments include Bebo (sold to AOL for $850m), Betfair (the online betting exchange), LOVEFiLM (the home entertainment subscription service), Habbo Hotel, and MySQL (sold to Sun for $1 billion). www.balderton.com
About BC Brandenburg Capital GmbH:
BC Brandenburg Capital GmbH (BC GmbH) is a management and a holding company for various affiliated funds. Being a subsidiary of InvestitionsBank des Landes Brandenburg (ILB), and being affiliated to tbg Technologie-Beteiligungs-Gesellschaft mbH of KfW Mittelstandsbank, BC GmbH supports growth-oriented and innovative medium-size companies in financing all phases of enterprise development: from research to product or process development, to market introduction as well as a possible introduction of the company to the stock exchange. BC GmbH is located in Potsdam and Frankfurt (Oder). Actually, BC GmbH manages 6 funds equipped with a total capital volume of 170mln Euro.Currently, BC GmbH acts as the funding partner for more than 40 active enterprises. As part of ZukunftsAgentur Brandenburg, as well as in combination with private capital investors, the funds administered by BC Brandenburg Capital have, in almost 15 years of business activity, taken stakes with an overall volume exceeding 100mln Euro. Its investment activities have focussed on companies related to information and communication technology, life sciences, nanotechnology, testing & measuring technology, microelectronics, as well as industrial and process technology. www.bc-capital.de
About the BFB BeteiligungsFonds Brandenburg:
BFB BeteiligungsFonds Brandenburg GmbH (BFB) was established by InvestitionsBank des Landes Brandenburg, in October 2005 by order of the Ministry for the Economy, and its capital volume is 30mln Euro. The active phase of investment was concluded in late 2008 according to schedule. The aim of the Fund was to provide, in particular, small- and medium-size companies in Brandenburg during their start-up or expansion stage with capital of up to 1.5mln Euro through dormant or open partnership. 75pc of the means of the BFB Fund were provided by the European Regional Development Fund (EFRE), and 25pc were brought up by the Brandenburg State Ministry for the Economy. Management was handed over to BC Brandenburg Capital GmbH. www.ilb.de
About KfW:
KfW gives impulses for the economy, society and ecology in Germany, Europe and the world over. It supports change and promotes promising ideas. Start-ups, tech companies and established SMEs can find tailor-made transparent offers of equity finance products. In the area of early stage financing you will find suitable financing offers, for both the start-up and the seed phase. The ERP Start Fund provides equity finance for the start-up phase of young technological companies. The Start Fund leverages private equity since it only provides capital if a co-investor is involved. In this way, it creates incentives for private investors to enter the market. The participations by KfW and co-investor are subject to the same economic conditions. www.kfw.de
For further information please contact:
For Cartagena Capital GmbH:
Cartagena Capital GmbH
Falk Müller-Veerse
Maximilianstr. 18
80538 Munich
Germany
Tel. +49 89 242 111 33
Fax: +49 89 242 111 55
falk(at)cartagena-capital.com
For Metaversum and Twinity:
Marchsreiter Communications
Dieter Marchsreiter
Christina Flanze
Guldeinstr. 41a
80339 Munich
Germany
Tel: +49 89-51919942
Fax: +49 89-520339393
twinity(at)marchsreiter.com