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SouthPeak Gets $12.9 Million in Funding (PC)

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While most venture capital firms have been investing in casual games and virtual worlds, SouthPeak Interactive has raised $12.9 million for indie games on consoles.

by David Radd on Thursday, June 19, 2008

SouthPeak Interactive today revealed via a 10-Q filing that it has raised $12.9 million in a private investment in public equity. The company will use these funds to further their next-gen development efforts. SouthPeak Interactive's biggest hit to date is the RPG Two Worlds.

In Fall 2007, SouthPeak was going to be acquired by Global Services Partners Acquisition to avoid IPO troubles when going public. The offer valuing SouthPeak at $31 million was rejected, but the investors continued to be interested in the company. Ultimately, SouthPeak ended up acquiring Global Services in April 2008, going public in the process and changing the nature of the investment.

Thanks to Venture Beat for the tip.