The announcement confirms reports on the Granite Global Ventures-led financing of the developer that broke in late April. Existing Turbine investors including Highland Capital Partners, Polaris Venture Partners, Tudor Ventures and Columbia Capital were also involved in the investment, which will be used to increase the momentum of Turbine’s growth.

Jim Crowley, the CEO and president of Turbine, said of the deal, "The addition of Time Warner, one of the world"s largest media companies, and GGV Capital, one of the financial community"s most sophisticated investors, adds a level of access, perspective and experience to Turbine that is singularly unique in the global online entertainment space. With this funding we are uniquely positioned to change the future of online entertainment as we bring new titles to market, expand the platforms we support and introduce new technologies to sustain self-evolving game worlds."  

Rachel Lam, Senior Vice President and Group Managing Director of Time Warner Investments, added, "Online interactive entertainment is a huge growth market and we are very excited about Turbine, its unique capabilities and the obvious opportunities that exist with our own broad portfolio of IP."

Managing partner of GGV Capital Hany Nada also chimed in on the investment, stating, "The demand for massively multiplayer online worlds is exploding both geographically and in terms of platforms served. We look forward to marrying our strengths both here and in Asia with Turbine"s unique capabilities."