Calgary – Ph03nix New Media Inc. has announced the launch of the first Canadian-based iPhone Fund: the iPhoenix Fund. The fund will be used to develop 133 Apple iPhone and iPod Touch games over the next 5 years.
The iPhoenix Fund is both Canadian AND accessible. According to Lam, “We really wanted to make this investment accessible to the average investor. The iPhone is game-changing not only for the mobile industry, but for handheld gaming as well, and the iPhoenix Fund is the only vehicle available for investors like us to get in on the action.”
The iPhoenix Fund will be uniquely structured will a maximum of 400 Units costing $5,000 CDN each. Investors will get paid 50% of revenue and recoup 100% of the development costs first. The Fund already has commitments over the minimum required and Lam anticipates that the Fund will close in November 2009.
Last month at GDC Austin, Lam ran through his slide deck for interested investors and a unique feature stood out – all investors get access the iPhoenix Fund’s very own app that reports real-time data on the Fund and how the portfolio of apps are tracking.
To jump-start the fund, Lam also announced that Ph03nix New Media has acquired Blue Unit Studios – a Calgary iPhone Game Studio created by Craig Rushforth and Dan Kratt. Rushforth and Kratt are the brains behind the popular iPhone game Sally’s Spa which knocked off EA’s Sims 3 last summer to become the #1 in the App Store. Quite the accomplishment considering The Sims is the best selling PC game franchise in history.
Investors interested in finding out more details on the Fund are invited to an office tour at 4pm, Oct 13th, at the company’s headquarters.