The Chinese giant Tencent made another investment, reports PocketGamer citing its sources. This time, the company supported Flow Games—a Turkish mobile game development studio.
Smash Fest
According to the publication, Tencent led a $46 million funding round for Flow Games. Of this amount, it contributed three-quarters, or approximately $34.5 million. PocketGamer does not specify who provided the remaining funds to the studio.
It is claimed that the deal was one of Tencent's largest investments in Turkey, excluding acquisitions.
Flow Games is based in Istanbul. Earlier this year, it released its debut game, Smash Fest—a mobile puzzle game with realistic physics, where players must shoot from a cannon at towers made of cans, blocks, and other objects, triggering a chain reaction. According to analysts, as of today, Smash Fest has generated $8.9 million from IAP alone. However, PocketGamer sources state that the lion's share of revenue comes from advertising, meaning its total income could be much higher.
Update from 10/16: Flow Games has confirmed the receipt of investments and stated that aside from Tencent, they have been funded by Makers Fund, Arcadia Gaming Partners, and Ludus Ventures.