WePlay Ventures, Turkey’s first investment company established specifically for the game industry, and Lima Ventures, sold their shares in UDO Games to Taleworlds, one of Turkey’s largest video game development companies.
Exit on the 1st Anniversary of the investment!
UDO Games, which started its activities in 2013, managed to win many awards in Europe and Turkey with its casual game named “Incredible Toys”, which it published a year later, in the categories of action runner and tower defense. UDO Games attracted attention by reaching more than 45 million downloads with Goons.io, Spear.io, Facepunch.io, Boas.io, and Blobie.io games developed especially in the “io” genre afterward.
UDO Games received its first investment in the investment round held in partnership with WePlay Ventures and Lima Ventures in August 2021. Just a year after the investment round, WePlay Ventures and Lima Ventures announced that they sold their shares in the successful game studio to Taleworlds, the developer of the Mount & Blade game series. Exiting an investment that has just completed its first year, the WePlay and Lima teams beat one of the records in this field.
“Exit news will keep coming!”
Underlining that their strategy is to support pre-seed game ventures financially and strategically from the first day, to turn these game companies into companies that are struggling on a global scale, WePlay Chairman of the Board Bora Koçyiğit; “As WePlay, we have been extremely aware of its potential since the day we invested in UDO Games with the dear Lima Ventures team. They also accomplished very successful works by using the investment they received correctly. However, to be frank, we did not expect such an early exit. The exit of a start-up that we invested in a year before completing our 2nd year as WePlay proved to us how well we did. Likewise, we will continue to support the pre-seed game venture with all our strength and create new exit stories. I congratulate the UDO Games team and wish them success in their future works.”
Lima Ventures Managing Partner Ahmet Argun stated that they are glad to embark on this journey with WePlay, which they trust with their knowledge and experience in gaming ventures, and UDO Games, which consists of a very successful team; “Our strongest point is to invest in the right ventures with the right business partners who are experts in their fields, and to support these enterprises throughout the process by using our smart money feature. It is an important success to make an exit with good conditions in this recession period that affects the whole world. Reşat Volkan Günel, one of the Founding Partners of Lima Ventures, stated that they aim to invest in many more successful startups in the game industry with WePlay; “We will continue to write global success stories in different sectors with the expert professionals of the Lima Ventures team.”