Funcom floats

Funcom, a Norweigan venture backed company that develops online games, has listed on the Oslo Stock Exchange, raising €25m.

The company, which is backed by Nordic Venture Partners (through NVP II), Northzone Venture’s fourth fund and Teknoinvest VIII, floated with a share price of €14.50. Return details are not being disclosed.

Funcom was created in 1993 and first received venture backing in November 2003 from Teknoinvest. Funcom produces Massively Multiplayer Online Games, a subscription-based service that allows customers to play against each other over the Internet.