VR-1 Closes $25 Million Private Placement

VR-1 Closes $25 Million Private Placement is today’s industry move, and it is one more reminder that the games business is growing up fast, whether it is ready or not.

In a strong vote of confidence by the financial community, online technology and content developer VR-1 it has closed a second round of private placement funding totaling approximately $25 million. Chicago-based investment banking firm Madison Securities was the lead placement agent. The funding follows VR-1’s first private placement, announced in January 1998, for $13.6 million.

It is business news, sure, but these moves shape what games get made, what stores carry them, and who is still standing next year.