Times may be tough for many, but that isn't stopping venture capitalist firms from seeding money to businesses they think will be successful. iPhone game publisher Ngmoco has just closed $10m in fresh finance from Norwest Venture Partners.
Ngmoco was originally financed in part by venture capital from Kleiner Perkins Caufield & Byers, which set up the $100m iFund to help finance iPhone developers. KPCB remains invested, along with Maples Investments. Tim Chang of NVP joins Ngmoco's board of directors.