Sweden’s Aonic invests $10mn in Turkish game developer Mega Fortuna

Sweden’s Aonic invests $10mn in Turkish game developer Mega Fortuna

Low labour costs mean Turkish game studios can produce many games in the search for market hits. / megafortuna.co/

By Akin Nazli in Belgrade January 29, 2025

Stockholm-based Aonic, launched in 2021, has invested $10mn in Turkish game studio Mega Fortuna, launched in 2023, Aonic has announced.

The deal includes an option for Aonic to acquire the entire share capital of Bursa-based Mega Fortuna for a valuation of up to $70mn.

Mega Fortuna was launched by Seyhmus Olker and Burak Goncu, who previously co-founded and led App Samurai (mobile advertising platform) and POW Games.

The company has so far developed Richie Games.

During the COVID-19 global liquidity boom, Turkey’s gaming startups emerged as hot favourites on the international venture investments market.

With the global tightening that followed the boom, the dealmaking lost pace. However, with the beginning of the current easing cycle, the interest in Turkish game developers has been on the rise again.

Since labour costs are low, Turkish game studios have the opportunity to produce many games, increasing their chances of developing market hits that make money.

On January 9, Grand Games raised $30mn in a Series A funding round led by UK-based early-stage investor Balderton Capital.

In December, Agave Games raised $18mn in a Series A round led by Balderton and UK-based Felix Capital.

Also in December, DoubleU Games (Seoul/192080) acquired a 60% stake in Istanbul-based Paxie Games, launched in 2021, paying $27mn.

#bneTech #Turkey

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