Electronic Arts to invest in VanEdge Capital

Posted by Rob Lewis

Private Equity blog peHUB's Alexander Haislip is reporting that Electronic Arts is poised to invest in VanEdge Capital's $200 million Canadian venture capital fund and that the fund expects to hold its first close on $100 million from six limited partners, including EA, later this month.

It's also is a way for EA to have a stake in the brain drain to venture capital it’s facing. The company has lost several high-profile executives to prominent VC firms in recent years. Benchmark Capital added Mitch Lasky, a former Jamdat CEO and head of mobile gaming at EA, as a general partner in 2007. Last year, Kleiner Perkins Caufield & Byers hired former EA executive Bing Gordon to help the firm wrap its arms around the gaming sector.

An investment in VanEdge will help EA stay on top of early stage innovations and promising startups, such as social gaming company Playfish, which it purchased late last year for $300 million and another $100 million in potential earnouts.

Vancouver's VanEdge plans to focus on early stage digital media opportunities in North America.

peHUB also reported the that the other limited partners currently executing final diligence on VanEdge are the Export Development Bank, the Business Development Bank, the British Columbia Investment Management Corp., B.C. Renaissance Capital Fund and Nicola Investments.

VanEdge's General Partners are former Electronic Arts employees Glenn Entis, Jason Chein, and Paul Lee.

Company:
Electronic Arts
Website:
http://www.ea.com
Location:
Vancouver, British Columbia, Canada

Want to be part of the Next Generation of games development? EA is the leading developer for next gen games and looking for passionate gamers who want to be a part of this exciting time. EA Canada currently has dozens of games in production and aside from some of the most profitable game titles like FIFA, NBA Street, NHL and Need for Speed, we are also developing some home-grown next gen New IP games as well for... more

Company:
VanEdge Capital
Website:
http://www.vanedgecapital.com
Location:
Vancouver, British Columbia, Canada

Vanedge Capital is a new venture capital fund focused on investments in interactive entertainment and digital media businesses. We make investments where our unique combination of operating leadership and management; subject matter expertise; relationships with technology, creative, and management talent; and proven ability to pick hits in a hit-driven business will generate out-sized returns. We focus on... more

Company:
B.C. Renaissance Capital Fund Ltd.
Website:
http://www.tted.gov.bc.ca/TRI/Pages/BCRCF.aspx
Location:
Victoria, British Columbia, Canada

The B.C. Renaissance Capital Fund Ltd. is a Crown corporation that is administered by the provincial Investment Capital Branch. The Renaissance Fund invests in venture capital partnerships managed by experienced investment professionals. It focuses on four key technology sectors: information technology, new media, clean technology and life sciences. more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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