More VC cash in development as Red 5 gets $18.5m

More VC cash in development as Red 5 gets $18.5m
Michael French

By Michael French

December 12th 2006 at 9:45AM

Red 5, the US studio put together by former developers of World of Warcraft, has been boosted with a $18.5m investment injection from Benchmark Capital and Sierra Ventures.

Founded in 2005, Red 5 had beeen set up to create new online games which the new cash will fund. It's not the first time in games for one of its investors, either, with Benchmark Capital having previously provided funds to Codemasters, Second Life and Jamdat.

Red 5 currently has a publishing and development deal in place with Korean MMO company Webzen, which is also partnering with Scottish studio Realtime Worlds, which last week announced it too had recieved some $31m investment money to support its online ambitions.