More Turkish investment as Fortune Mine Games closes $2m seed round
Fortune Mine Games, a Turkish mobile developer focusing on casual titles, has successfully concluded a $2 million seed investment round, with Ludus Ventures as the lead investor. Ludus Ventures is a significant player in the Turkish market and also has a close connection to Fortune Mine Games, as İsmet Gökşen, a general partner at Ludus Ventures, serves on the board of Fortune Mine Games.
Currently, Fortune Mine Games has one title, Cuisine Master - Coin Journey, in soft launch, and it has already achieved an impressive 400,000 downloads. The recent investment will allow the studio to further refine and develop the game for long-term appeal to casual gamers. Additionally, the funds will be utilized to enhance their data analytics, live-ops, and AI capabilities.
Turkey's mobile gaming industry has been catching the attention of venture capital firms due to the potential for profitable exits. The country has witnessed numerous successful exits in the gaming sector, making it an attractive destination for investors seeking lucrative opportunities. Ludus Ventures has been actively investing in the Turkish market and has previously backed companies like Spektra Games and Paxie Games.
The Turkish gaming market is experiencing significant growth and has also seen recognition on the global stage. Turkish studio Spyke Games made its mark by entering the Top 50 Game Makers list in 2022. This surge of investment and activity in Turkey's mobile gaming sector showcases its potential as a promising environment for startups and game development studios, despite being somewhat overshadowed by major markets like China and Europe.
Source: Iwan Morris, Staff Writer at PocketGamer