Weekly News Digest #3
# of announced deals
8
announced deals’ size
$55m
# of closed deals
7
InvestGame x Deconstructor of Fun: 8 Predictions for Gaming M&A and Investments in 2025
Earlier today, we shared our predictions for gaming M&A and investments in 2025 on the Deconstructor of Fun blog. In this piece, we dive into our expectations for VCs, IPOs, private equity, platform strategies, and tech innovations—everything we believe will shape the industry this year.
As always, it’s backed by our data. Please read and let us know what you think!
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MERGERS & ACQUISITIONS
Singapore-based outsourcing gaming company Winking Studios has acquired China-based outsourcing art gaming company Mineloader Digital for a total consideration of ~$20m (S$ 27.2m). The deal includes an upfront payment of ~$18m (S$24.5m), with the remaining amount contingent on specific conditions to be met over the next five years. The transaction is expected to close in Q2’25. Mineloader Digital employs 460 staff, while Winking Studios has a team of 800. The acquisition is part of Winking Studios’ continued M&A strategy and follows the company’s recent $10.1m raise via a dual-listing IPO on the London Stock Exchange.
VENTURE FINANCING
Turkey-based mobile games and apps developer Mega Fortuna has raised $10m through a minority investment from Aonic Group. The deal includes an option for Aonic to acquire Mega Fortuna at a valuation of up to $70m. As part of the deal, Aonic will integrate Fortuna’s reward technologies, such as mobile Richie Games, into its portfolio companies, including Exmox. This deal will support the development of Aonic’s proprietary User Acquisition platform. This transaction follows Aonic Group’s $157m funding round in Dec’24.
UK-based user acquisition and monetization platform Metica has raised $9m in a Seed funding round led by Play Ventures, 13books, and Firstminute Capital, with participation from angel investors. The funds will enhance the company’s platform, which offers game developers AI-driven monetization and UA solutions. Metica was founded by entrepreneurs whose previous startups, Comufy and DataTiger, were acquired by King and Apple.
US-based web3 game technology company Hyve Labs has raised $2.75m in a pre-Seed funding round led by Framework Ventures, with participation from Volt Capital, Builder Capital, and 32 Bit Ventures. The funds will expand the team and improve the company’s core infrastructure. Hyve Labs is developing a gaming rollup designed to integrate with platforms like Telegram and Discord.
Web3 game BeraTone has raised $2m in a Seed funding round led by Animoca Brands, with participation from SNZ Holding, Citizen X, Avid3, Metazero Capital, TheCryptoDog, The Rollup, MetaverseHQ, and other investors. The funds will be used to to expand the team and support the development of the company’s farming and life-simulation MMORPG, built on its proprietary web3 chain.
Spain-based games developer Quantum Box Games has secured $1.9m in a partnership with Japan-based Route24, a studio founded by former Square Enix developers. As part of the deal, both companies will collaborate on developing a JRPG titled Kiriko the Mystic. In addition, Quantum Box Games announced plans to initiate a financing round soon to support its long-term projects.
US-based web3 social platform Tilted has raised $1.3m in a funding round led by Lingfeng Innovation Fund, with participation from AZA Ventures, Wise3 Ventures, and Stake Capital. The funds will be used to expand the company’s monetization tools, esports tournaments, and blockchain infrastructure. Tilted is developing a social media app that allows users to earn passive income through web3 technologies. The app is scheduled for launch at the end of Jan’25.
US-based games developer Old Glory Studios has partnered with Folla Capital to launch a SAFE (Simple Agreement for Future Equity) crowdfunding, with a maximum funding target of $1.2m. Investors participating in the campaign will receive equity in the studio. The funds will be used to develop Victory’s Grave: Outflank, a PvP shooter with a playable prototype. Old Glory Studios was founded by military veterans who had experience working on renowned titles such as Tom Clancy’s Ghost Recon and The Division.
