Turkish video game investment firm WePlay Ventures has revealed it has increased its investment portfolio to 11 studios in 2021.
WePlay Ventures is a gaming industry-focused investment company based in Turkey, focusing on supporting early-stage start-ups in the MENAT region.
Last year the company invested in eight new studios, including Udo Games, Forge Games and Hyper-Casual Hoody Studio. Out of its current investment portfolio, 60 percent of the studios have focused on mobile gaming development, while the remaining 40 percent focus on console and PC titles.
Over 220 titles have been developed from its invested studios, with over 170 titles developed for mobile compared to 11 titles for PCs and consoles, highlighting the crucial activity of the mobile gaming industry in the MENAT area.
Extends its reach
The company stated that following its contributions, the invested gaming studios quadrupled in 2021, bringing the total valuation of companies to $ 74 million.
During 2022, the company plans to expand its reach to Eastern Europe and parts of Central Asia to increase its presence as an investment power.
Turkey’s mobile gaming industry continued to grow in 2021 with key acquisitions and investments, such as the acquisition of Ruby Games and Dream Games, which raised $ 155 million, placing the company at a value of $ 1 billion.
Recently, Turkish mobile games Tiplay Studios raised $ 500 million to increase its team size and expand the development of its titles. The company is currently valued at $ 25 million.
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