Finnish game developer Apaja got EURO 1.75 mill (or about $240 million USD) from a little known VC based in Estonia named Martinson Trigon. How Apaja can become profitable when its strategy seems to be to partner with media companies like Lycos thus sharing the profits (or worse revenues) in rich markets like France, Italy and Germany and then take VC money to target less-wealth Eastern European markets, all the while relying on high-commission telo-billing like Premium SMS and running game dev and operations in less-than-cheap Helsinki remains to be seen. Maybe they should hire Polish or Romanian devs with all those Estonian Euros?: www.apaja.com/press/75
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