SHANGHAI--(BUSINESS WIRE)--UltiZen Games Ltd., a game development and outsourcing company, has raised $8.0 million USD in its third institutional round of funding from JAFCO Asia, Hotung Investment Holdings Ltd., and Tokio Marine Investment Services. JAFCO Asia led the round. The Series C funding will be used to expand the company’s online web game publishing and mobile games.
Established as a game outsourcing company, UltiZen now operates three divisions: a game outsourcing division under the UltiZen brand; an online gaming development and publishing division under the U-Pal brand; and a mobile games development and publishing division under the Mo-Star brand. The company currently employs nearly 400 people across the three divisions in Shanghai, SuZhou and Beijing.
JAFCO Asia, Hotung and Tokio Marine join UltiZen’s existing investors, Dragonvest Partners, PacLink and CA-JAIC.
“Our new investors bring considerable industry experience and relationships to the company,” said UltiZen Games CEO Lan Haiwen. “We look forward to further developing our gaming market presence with their support.”
“We are very glad to lead the Series C investment round of UltiZen Games,” said Raymond Gu, Associated Director of JAFCO Asia. “We believe the management team is strong and the company strategy is clear, and we are expecting rapid growth in the coming 12 to 24 months.”
“The UltiZen Games business model is unique. The structure and synergy among its three business divisions gives the company a strong advantage,” added David Tso, Vice President of Hotung. “We are happy to have the opportunity to work with the team to explore the emerging market of online web/social and mobile games.”
“We're very pleased to build on our special relationship with UltiZen,” said Takayuki Nakazato, CEO of Tokio Marine Investment Services. “We believe the Series C investment will meaningfully strengthen UltiZen's unique position in the fast-growing online gaming market and help drive the company to the next level.”
UltiZen’s first online web game, War of Gods, was launched in May 2009. The company will launch a comprehensive game portal with more than five new titles in the second half of 2010 under the U-Pal brand. UltiZen is a leader in licensing its games worldwide: War of Gods is operational in Europe, North America, Japan, Korea, Vietnam, Taiwan, and Malaysia.
UltiZen launched Princess Fury, the company’s first iPhone/iPad game, on June 3, 2010. The game is now available through the iTunes store. Touch Arcade, a worldwide leading portal of features, news and reviews for iPhone and iTouch games, recently reviewed Princess Fury.
“We previewed the game just a few days ago and were impressed with the visual style and the idea of adding strategic elements to what is typically a simplistic button-mashing genre. With Princess Fury now available, we're happy to say that it has largely succeeded in bringing a new take to a tried and true formula,” said the Touch Arcade review.
The company plans to launch at least one new game each month during the second half of 2010. Mo-Star games can be found on Apple’s global iTunes store.
About UltiZen Games
Founded in 2005, UltiZen Games is China’s largest PC game development and outsourcing company. UltiZen is also the creator of the U-Pal casual game platform for the Chinese market, as well as the leading mobile game developer. In 2008, Red Herring named UltiZen one of the most innovative private technology companies with its Global 100 award. UltiZen currently has nearly 400 employees and maintains studios in Shanghai, Beijing and Suzhou, with a representative office in Kyoto. For more information about UltiZen, please visit http://www.ultizen.com/index.asp?langs=3.
About JAFCO Asia
JAFCO Asia is one of the leading venture capital industry brands in the Asia-Pacific region. Its primary focus is to invest in promising technology enterprises with high growth potential. Headquartered in Singapore, and with entities in Shanghai, Beijing, Hong Kong, Taipei and Seoul, JAFCO Asia has around U$650M in aggregate funds under management. It is an operating subsidiary of JAFCO Co. Ltd., which is part of the Nomura group of companies and one of the largest private equity firms in Japan with funds under management exceeding US$5B and is listed on the Tokyo Stock Exchange.
About Hotung Investment Holdings Ltd.
Hotung Investment Holdings Ltd., a venture capital firm with operations in Taiwan, the US, and China, was incorporated in March 1997 and has been listed on the SGX-ST since August 1997. It is the first and only Taiwan venture capital firm listed on the Singapore Exchange.
Hotung investment portfolio is focused on key industry sectors that include semiconductor, Internet and consumer-related sectors. Over 70 percent of the Group’s portfolio investments are in Greater China, while the rest are based in the US.
About Tokio Marine
Established in 1994, Tokio Marine Investment Services (TMIS) provides advisory and asset management services in the Asia region. Based in Hong Kong, TMIS serves as an investment arm of Tokio Marine Group. The company currently focuses on Asian private equity investment and provides investment advisory services on its proprietary funds and external private equity funds to generate high investment returns.