Chinese tech giant Tencent has made a minority investment in French mobile developer and publisher Voodoo.
As reported by TechCrunch, the funding amount was not disclosed. However, it offers Voodoo a great opportunity to strengthen the presence of its games in the Asia Pacific games markets.
With a company valuation of $1.4 billion, and more than 300 million monthly active users, the seven-year-old company has proven to be a great success. Tencent will provide the French hypercasual specialist with the right opportunity to grow in the APAC region, which already contributes to its success. Voodoo's games library has racked up 3.7 billion downloads, of which 7.5 per cent come from China, while the Asia Pacific region as a whole has contributed 25 per cent.
"We can improve the way we distribute on Android [in the region] and also use local influencers to create virality on our games. APAC is 50 per cent of the overall gaming industry, so we really think there is a huge opportunity to grow," said Voodoo CEO Alexandre Yazdi.
Tencent is known for its investments, be they big or small. Over the years it has developed an impressive portfolio - back in 2015, the Chinese company acquired full control of Riot Games, the creator of the hit MOBA League of Legends.
Earlier this year, Tencent acquired a majority stake in streaming platform Huya for around $262.2 million, after having made an initial investment in 2018. It is now seeking to merge Huya with fellow streaming platform Douyu, which the Chinese firm has also invested in.