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Tencent Invests In Wizard Games

LATER VENTURE | ANNOUNCEMENT DATE: 08 DEC 2020
WRITTEN BY | 13 Dec 2020
Tencent Invests In Wizard Games
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💵 Investment

  • Chinese gaming giant Tencent (SEHK: 700) invests an undisclosed sum in China-based multiplatform game developer Wizard Games, also known as Zhejiang Wooduan Technology Co., Ltd. However, Wizard Games has only mentioned that the sum is about several hundred million RMB

  • The amount of the proceeds is rumored to be somewhere between $30m and $140m. For example, non-profit organization P&G Alumni Network, of which Wizard Game is a member, reported that the amount of the investment is over $100m

  • The financing will be used to expand the team, grow an international business, and launch new games in 2021. The company also plans to release a new PC-based construction and adventure sandbox game Sea of Craft in 2021

🎲 Products

  • Wizard Games operates more than 10 titles on the web, PC, and mobile platforms. The company’s flagship title is FPS Battle Teams, which is incredibly popular in China. The game is said to have over 500m installs with MAUs exceeding 30m

  • Now the company works on two new titles that are planned to be released the next year: Battle Teams 2 and Sea of Craft — an adventure sandbox game

SOURCE: GAMESINDUSTRY

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Wizard Games
  • Established in 2010

  • Headquarters — Hangzhou, China

  • Team of 300+ employees

  • Multiplatform game developer

Tencent
  • Established in 1998

  • Headquarters — Shenzhen, China

  • Team of 60 000+ employees

  • Founded by —  Pony Ma (Ma Huateng), Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing

  • Global conglomerate specializing on games, internet-related services and technologies

  • 2020 interim report, 2019 annual report