Turbine secures $40 million investment

MMO developer Turbine found its purse a bit heavier this week after securing a $40 million round of financing from a group of investors led by Granite Global Ventures, filling the Lord of the Rings Online creator's total venture capital money bin to around $90 million mark.

According to a report by Private Equity Hub, the investment also saw Granite Global's managing partner Hani Nada take a seat on Turbine's board, presumably in order to make sure the money was put to good use and not slipped into the underwear of Elvish hookers after a night on the town. While we remain in the dark as to what exactly the studio will do with its newfound wealth, Turbine is expected to make an announcement regarding its future plans in the next two weeks.

[Via GI.biz]

This article was originally published on Joystiq.