Project Myworld buyer â??namedâ??

Project Myworld buyer â??namedâ??

By Rob Crossley

October 4th 2010 at 1:52PM

VC firm that invested $31m in the collapsed studio linked with Hetherington

A US venture capitalist group has been named by a national newspaper as the anonymous buyer of Dundee outfit Realtime Worlds.

New Enterprise Associates, which four years ago invested $31 million in Realtime Worlds, is said bought the studio’s pet project early in September.

The US firm that bought Project Myworld last month had insisted on doing so anonymously.

The Sunday Herald, which has been in contact with numerous sources close to the matter, may have blown the group’s cover.

The paper said that New Enterprise Associates “has linked up with former chairman Ian Hetherington and his new company, Kimble Operations, to oversee the move.”

Hetherington, the man who formed Psygnosis and ran SCEE before co-founding Realtime Worlds, has been routinely linked to the Project Myworld purchase.

According to Companies House documents, his new outfit Kimble was originally incorporated, with the aid of business law firm Olswang LLP, on July 30th.

It was founded under the name 'New Inc Co', a relatively common name for new companies that need incorporating but aren't willing to disclose their name officially.