Turkish mobile developer Fortune Mine Games has closed a $2m seed investment round led by the firm Ludus Ventures.
The studio, who are focused on creating casual titles, currently has one title in soft launch, Cuisine Master - Coin Journey, which already boasts 400,000 downloads according to Turkish gaming news outlet Mobidictum, who originally reported the deal. Ludus Ventures are,notably a major investor into the Turkish market, and general partner İsmet Gökşen is also a board member of Fortune Mine Games. He was also quoted as committing the faith Ludus has in Fortune Mine Games, commenting, "We are confident that they have gathered around a group of highly ambitious & collaborative people in the region and built upon a great culture to create another gaming industry success story from Turkey"
Fortune Mine Games co-founder and CEO Deniz Korzay commented on the investment, "Our utmost priority is to create a unique culture to make our path to be a product company. We would like to build the most talented and dedicated team in mobile gaming. The additional funds will be put to use to fine-tune our game which is to be played for at least 5 to 10 years by casual gamers, and further develop our data analytics, live-ops, and AI capabilities”.
More money in Turkiye
It's no surprise that venture capital is so strongly interested in the Turkish market. As many VC firms are mainly interested in the money to be made from exits, something which there has been many of in the Turkish market, the vibrant and growing mobile gaming industry in the country is an appealing target for their cash flow. Ludus themselves have been a longtime investor and noted for their contributions to the market as far back as 2021.
Most recently Ludus made investments in both Spektra Games and Paxie Games, while we've also seen an entrant into our 2022 Top 50 Game Makers list by Turkish Spyke Games as well. All this investment and activity reflects an overlooked - compared to major markets like China and Europe - environment for mobile game startups and studios.
