Cash backing for virtual gaming firm

Feb 12 2009 by Andrew Mernin, The Journal

A FLEDGLING online firm hoping to become a Facebook for gamers has been backed by £420,000 in funding from North East investors.

MySapient.com, which will combine a virtual gaming world with the popular elements of social networking sites such as Facebook, has won investment from NorthStar Equity Investors (NSEI).

The Cramlington-based company has completed a £610,000 funding package, the majority of which comes through NSEI’s Co-Investment Fund alongside £190,000 from MySapient managers and directors.

The investment comes as One North East, which supports NSEI, is aiming to highlight the help available to businesses under its Real Help For Business Now campaign which is being backed by The Journal.

MySapient allows users to create their own avatar which can both interact and play games with friends and share experiences through an instant messaging application.