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Embattled Moshi Monsters Creator Avoids Bankruptcy With New Deal

By Tony Seruga

Mind Candy says it has raised $1.5 million from investors
Company has renegotiated 6.5 million loan from TriplePoint

Mind Candy, the London-based company behind Moshi Monsters, has avoided potential bankruptcy by renegotiating a critical loan repayment and securing $1.5 million in new funds from existing investors.

Venture capital firms Accel Partners and LocalGlobe led the investment round with participation from other existing investors, Mind Candy Chief Executive Officer Ian Chambers said in an interview Monday.

Silicon Valley-based investment firm TriplePoint Capital agreed to a two-year extension of the 6.5 million pound ($8.1 million) loan to Mind Candy. TriplePoint took a $2 million markdown on the value of the loan to account for these new terms, the investment firm said on an earnings call March 13…

Embattled Moshi Monsters Creator Avoids Bankruptcy With New Deal

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