Creative Ventures scores debut investment(3)

UK venture capital firm Creative Ventures has made its first investment since it was founded in late 2006.

Creative Ventures has invested in the TNWA Group, a UK developer of an online multiplayer gaming platform. TNWA has also bought Enemy Down, a gaming networking site, which makes it the biggest tournament gaming community in the UK and one of the three biggest in Europe.

Creative Ventures was founded in late 2006 by Spyro Korsanos, who previously worked at several media businesses including BSkyB, Cable & Wireless and Liberty Global.

Korsanos said: “We have a very tax effective structure that enables us to be an open ended fund – so we are constantly in capital raising mode and seeking high net worth individuals to be potential investors.”

“We have some more deals in the pipeline – one UK-Finnish business in the online advertising space and another business that is more confidential right now.”

Creative Ventures provides venture capital up to £2 million (€3 billion, $4 billion) to entrepreneurs in the media, communications and technology sectors.