The Chinese giant Tencent has made another investment, reports PocketGamer citing its sources. This time, the company backed Flow Games, a Turkish mobile game development studio.
Smash Fest
According to the publication, Tencent led a $46 million funding round for Flow Games. The company contributed three-quarters of this amount, approximately $34.5 million. PocketGamer does not specify who provided the remaining funds to the studio.
It is claimed that the deal is one of the largest investments by Tencent in Turkey, excluding acquisitions.
Flow Games is based in Istanbul. Earlier this year, it released its debut game, Smash Fest—a mobile puzzle game featuring realistic physics where players shoot from a cannon at towers made of cans, cubes, and other objects, initiating a chain reaction. Analysts estimate that as of today, Smash Fest has generated $8.9 million solely from in-app purchases. However, PocketGamer sources report that the majority of the game's revenue comes from advertising, so its total income could be significantly higher.