Google Ventures Invests In iPhone Game Developer ngmoco

Google Ventures , the VC arm of the search giant, has made an investment in popular iPhone/iPad game developer ngmoco , say multiple sources. The company, which is already profitable, took the money as part of a new round of funding — probably in the $3-5 million range. ngmoco currently has some very popular games on iOS, including 'We Farm', which is currently the second most popular game on the iPad. The investment valued ngmoco well above $100 million, we've heard. This comes on top of a $25 million Series C round ngmoco closed in February. This is not an investment being made by Google itself, which has been fleshing out its social gaming strategy with a $150 million investment in Zynga and acquisitions of Slide and social payments company Jambol . Rather, it's being made by Google's VC firm, which has repeatedly made it clear that it is a distinct entity from the search giant and that it doesn't make strategic investments.