One of the prominent players in the Turkish startup scene, Istanbul-based Dream Games, announced recently that it secured an investment by European private equity firm CVC to support its next chapter of growth and continued global leadership in mobile games.
The transaction will provide liquidity to Dream Games' initial venture capital partners, who will exit after five years and initiate a strategic partnership with CVC as its new equity partner, CVC said on Thursday.
The Turkish mobile games developer is best known for high-grossing puzzle games such as "Royal Match" and "Royal Kingdom."
The transaction, which includes debt provided by funds managed by Blackstone and other investors, values Dream Games at around $5 billion, Reuters reported, citing a source with knowledge of the deal.
A Bloomberg report also said that the deal values Dream Games at $5 billion, which is a steep increase from its $2.75 billion valuation in 2022, according to a source familiar with the matter.
CVC will buy out Dream Games' initial venture capital partners and become its sole equity partner as part of the deal, which it said will boost the development of new games.
The transaction is subject to regulatory approvals and is expected to be completed in the third quarter of 2025, Dream Games' statement said.
"Their (CVC's) experience investing in category-leading companies and track record of supporting the long-term vision of founding teams make them ideal partners as we continue to enhance our global leadership," said Soner Aydemir, co-founder and CEO of Dream Games.
"We are incredibly proud of what our team has built so far, and we're excited to enter this next phase of growth with the support of our new investors," Aydemir said.
