Forgame Tech Receives Significant Minority Investment
Summary
Forgame Tech Co., Ltd, a Guangzhou, China-based developer and publisher of online, browser-based games, has received a significant minority investment of undisclosed amount from global growth private equity firm TA Associates.Qiming Venture Partners and Ignition Capital Partners also participated in the financing.The company intends to use the proceeds from the investment to further execute its strategies on new platforms such as mobile devices and tablets, and expand its international presence.Founded in 2008 and led by Kevin Wang, Chairman and CEO, Forgame consists of two game development brands, Feiyin and Jieyou, and a publishing platform, Weidong, The company has developed 28 cloud-based multiplayer online games, including Ming Dynasty, Soul Guardians, Soul Guardians 2, Fantasy Ascension, The Ninth Heaven and Legend of Chaos, which are published through Forgame’s Weidong 91wan.com platform, and by over 100 platforms under the joint-publishing model.In conjunction with the investment, Jason Tan and Edward F. Sippel, Managing Principal – Asia Pacific, TA Associates Asia Pacific Ltd., and and Hans Tung, Managing Partner, Qiming Venture Partners, will join Forgame’s Board of Directors.