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Private equity firms invest in Chinese mobile game developer Since Times

Date Type Companies involved Size
July 10th, 2017 investment Not disclosed
Private equity firms invest in Chinese mobile game developer Since Times

Private equity firms in China have bought stakes in local mobile game developer Since Times.

The developer has worked on games such as Empire of Warships, Alliance of Tanks and Red Alert War of Tanks. No specific details of the new investments were announced.

Big backing

As China Money Network reports, the studio is already backed by game industry giant Tencent, which pumped $1.4 million into the studio as part of an angel funding round in 2012.

The developer has since raised Series A and B funding rounds, picking up other investors including Zhejiang Juren Capital Management Co., Ltd. and Zhenghelitong.

The company was listed on the Shenzen Stock Exchange Third Board (National Equitites Exchange and Quotations) in 2014.

In 2016, Since Times reported revenues of $72 million, up 42.1% year-on-year, as profits also grew 17.2% to $19.4 million.


Editor

Craig Chapple is Editor of PocketGamer.biz. He has previously held roles as Deputy Editor at Develop and Online Editor at Nintendo of Europe.

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