Venture capitalist takes control of Jagex

A New York venture capital firm has purchased further shares in Jagex to increase its stake to 55 per cent, effectively transferring control of the Runescape developer from the UK to the US.

Financial documents seen by Develop show that Insight Venture Partners has acquired another twenty per cent of the Cambridge-based outfit. The VC firm previously acquired 35 per cent of the company in 2005.

Jagex agreed to pay off 2.5 million in expenses as part of the deal – just one of many implications that Insight paid substantial sums for the equity.

For more on this story, visit Develop.

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