Stockholm-based Aonic, founded in 2021, has invested $10 million in Turkish game studio MegaFortuna, which was established in 2023, according to an announcement from Aonic.
As part of the agreement, Aonic has secured an option to acquire 100% of Bursa-based MegaFortuna at a valuation of up to $70 million.
MegaFortuna was co-founded by Seyhmus Olker and Burak Goncu, who previously launched App Samurai, a mobile advertising platform, and POW Games. The studio has so far developed Richie Games.
During the COVID-19 liquidity surge, Turkish gaming startups became highly attractive to international investors. While deal activity slowed during the subsequent economic tightening, interest in Turkish game developers has been rising again with the shift toward a more favorable financial climate.
Turkey’s relatively low labor costs allow its game studios to produce multiple titles, increasing their chances of creating commercially successful games.
The sector has seen renewed investor interest in recent months. On January 9, Grand Games secured $30 million in a Series A funding round led by UK-based Balderton Capital. In December, Agave Games raised $18 million in a Series A round backed by Balderton and UK-based Felix Capital. That same month, Seoul-based DoubleUGames (192080) acquired a 60% stake in Istanbul-based PaxieGames, a studio founded in 2021, for $27 million.
Source: https://www.intellinews.com/sweden-...n-turkish-game-developer-mega-fortuna-363824/
As part of the agreement, Aonic has secured an option to acquire 100% of Bursa-based MegaFortuna at a valuation of up to $70 million.
MegaFortuna was co-founded by Seyhmus Olker and Burak Goncu, who previously launched App Samurai, a mobile advertising platform, and POW Games. The studio has so far developed Richie Games.
During the COVID-19 liquidity surge, Turkish gaming startups became highly attractive to international investors. While deal activity slowed during the subsequent economic tightening, interest in Turkish game developers has been rising again with the shift toward a more favorable financial climate.
Turkey’s relatively low labor costs allow its game studios to produce multiple titles, increasing their chances of creating commercially successful games.
The sector has seen renewed investor interest in recent months. On January 9, Grand Games secured $30 million in a Series A funding round led by UK-based Balderton Capital. In December, Agave Games raised $18 million in a Series A round backed by Balderton and UK-based Felix Capital. That same month, Seoul-based DoubleUGames (192080) acquired a 60% stake in Istanbul-based PaxieGames, a studio founded in 2021, for $27 million.
Source: https://www.intellinews.com/sweden-...n-turkish-game-developer-mega-fortuna-363824/
