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Venture Capital News: MunkyFun Grabs $3M Investment

SAN FRANCISCO, CA, Maker of games such as My Horse and Bounty Bots, received a minority investment of $3 million from GREE.
GREE is today announcing that it's expanding its focus on 2nd party mobile game development with a new mobile investment fund managed by a new publishing and partnerships group. The fund's first venture is in mobile game developer, MunkyFun, maker of games such as My Horse and Bounty Bots. MunkyFun received a minority investment of $3 million from GREE.

GREE, which recently announced the closure of mobile social gaming platform, OpenFeint, is focusing its US business primarily on its own titles and developer partner titles. As part of the company's internal US reorganization, a majority of the GREE games platform team will be transitioned to new departments with redundancies in some areas. The overall GREE Platform business will begin transitioning to its operations in Tokyo as a part of this change

The US operation continues to build a strong portfolio of mobile games - including recently launched titles Monster Quest and MLB: Full Deck. The mobile investment fund is the latest in a series of commitments to first party and second party titles including full-out acquisitions of mobile game developers App Ant in September 2012 and Investment in IUGO Entertainment earlier this year.
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