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The Turkish games industry has raised $935 million in capital since 2020, over a total of 132 funding rounds.
According to investgame’s Five Years of The Rising Gaming Empire: Türkiye report, Royal Match maker Dream Games has seen the highest level of investment in the Turkish games industry at $468 million.
Should Dream Games succeed in raising $2.5 billion in debt and equity, its lead will be even further secured.
The report highlighted Spyke and Manc Games as having received the second and third-most funding among Turkish games companies, at $105 million and $50 million respectively.
Furthermore, the top 10 companies were all found to work in the mobile sector. Manc Games has also worked in web3.
Laton was found to be the top Turkish venture capitalist for games companies, having been involved in three deals in the country and leading one of them. It has also participated in one global deal.
Led by “architects”
With seven M&A exits worth over $5 million since 2020, Turkish exits have totalled $2.9 billion. This figure has been led by “architects of the casual and hypercasual gaming boom” Peak Games, Gram Games and Rollic.
“Türkiye’s success is deeply rooted in mobile gaming’s agility,” investgame noted.
Seven total M&A exits since 2020 have tied Türkiye with Israel, although the latter’s seven exits have been to the value of $7.2 billion.
Both have landed ahead of Finland’s $1.5 billion across three exits but are significantly behind the UK’s 25 M&A deals since 2020. However, the cumulative value of the UK’s deals has been $6.9 billion, $300 million behind Israel’s.
“Türkiye has outpaced Israel and Finland in raising capital in recent years. Remarkably, it has secured nearly as many funding rounds for gaming studios as the UK – an extraordinary feat for a much smaller, emerging market competing on par with a financial giant,” said investgame.
“Over the past five years, Türkiye’s gaming sector has evolved from a hidden gem into a global contender.”
It’s worth noting, however, that $724 million of Türkiye’s $935 million capital raised over the past five years came in 2021 and 2022.
