Leading global law firm Baker McKenzie has advised Index Ventures on a $155 million Series B investment round in Dream Games, an Istanbul-based mobile gaming company, valuing the business at $1 billion. Index co-led the round with Makers Fund, with participation from Balderton Capital, IVP and Kora and follows a $50 million Series A investment round in February 2021 on which Baker McKenzie also acted.
Dream Games will use the funding to create the next generation of casual puzzle games and will build on the runaway success of its debut game Royal Match, which reached the top-20 grossing games in the US, UK, and Germany in only three months. The team behind Dream Games previously worked at Peak Games, which was acquired by Zynga in June 2020, a deal Esin Attorney Partnership and Baker McKenzie London also advised on. The Turkish gaming industry has seen a rapid growth in recent times attracting $2.4 billion in investments over the past five years.
Leading on the transaction, London senior associate Tom Gastrell said, “It was a pleasure to support Index Ventures with its investment into Dream Games and to see the phenomenal success of Royal Match. The games industry continues to grow at a spectacular rate and we are seeing lots of activity in the sector. We wish Index and the Dream Games team every success with the future.”
The Baker McKenzie team in London consisted of Will Holder (partner), Tom Gastrell (senior associate), Grace Blackburn and Georgiana Andrews (associates). Also involved in the deal were Eren Kursun (partner), Caner Elmas (partner) and Mine Sekmen (associate) from Esin Attorney Partnership.
This transaction is the latest example of Baker McKenzie being at the forefront of the gaming industry in both Europe and globally. In December 2020, Baker McKenzie advised Hutch Games Ltd., a leading developer and publisher of free-to-play mobile games focused on the racing genre, in its acquisition by Modern Times Group MTG AB, a digital entertainment company based in Stockholm, Sweden.
About Index Ventures
Index Ventures is a San Francisco and London-based international venture capital firm that helps the most ambitious entrepreneurs turn bold ideas into global businesses. Index-backed companies that are reshaping the world around us include Discord, Figma, Revolut, Roblox and Robinhood.
About Dream Games
Dream Games is a mobile gaming company based in Istanbul. Dream’s mission is to combine technology and creativity to develop high-quality mobile games that will be played for years. The game maker launched its first title, Royal Match, earlier this year. To learn more, please visit https://dreamgames.com.
About Baker McKenzieBaker McKenzie helps clients overcome the challenges of competing in the global economy. We solve complex legal problems across borders and practice areas. Our unique culture, developed over 65 years, enables our 13,000 people to understand local markets and navigate multiple jurisdictions, working together as trusted colleagues and friends to instil confidence in our clients.