Chinese game publisher Forgame raises cash from Ignition, TA and others Chinese game publisher Forgame raises cash from Ignition, TA and othersPosted by admin on July 12, 2012
GeekWire 7/11/12 –
Forgame Tech, a Chinese developer of more than two dozen online games, including Ming Dynasty, Soul Guardians and Legend of Chaos, has raised an undisclosed round of capitalfrom TA Associates, Ignition Capital Partners and Qiming Venture Partners.
Forgame was founded in 2008, operating game development brands such as Feiyin and Jieyou, and a publishing platform known as Weidong. It claimed more than 110 million registered users at the end of June.
“As the free-to-play model allows a user to play without purchasing an expensive game console, it is particularly attractive in regions with historically limited console markets such as China, South Korea and continental Europe. We anticipate significant ongoing market opportunities for Forgame in these regions,” said Hans Tung of Qiming Venture Partners, who is joining the company’s board.
Seattle’s Ignition Capital is the private equity arm of Ignition Partners. Qiming is the firm’s Chinese affiliate.
Go to full article here.