Shanghai, China, July 8th 2021 – The video game studio Arrowiz revealed today closing its Series A investment round led by Tencent for multi-million USD for a minority stake in the company. The studio founded by Horace Xiong (CEO), Justice Liu (COO) and Michael Chua (CFO), will use the funds to increase its production capabilities and empower the studio creative minds with the best tools and resources.
Last November, Tencent Games (via its publishing label Yooreka) and Arrowiz agreed on a publishing deal for an unannounced game in China, South East Asia and Korea. This project, set to be released in 2022, will be revealed early next year by a major Western publisher.
Arrowiz now has 30 employees and is set to outpace its original goal of 40 by the end of the year and doubling this headcount in 2022. The studio, working both on original and licensed content, now counts 2 games in production, and is expecting to start a 3rd project by the end of 2021.
Arrowiz CEO and Co-founder Horace Xiong says “We feel honored to strengthen our cooperation with Tencent with this investment. As a studio with genuine global ambition, we are forming multiple collaborations with partners across different continents. Arrowiz will keep focus on both original initiatives and well-known IPs to deliver appealing stories to the worldwide audience. Tencent as our key partner in China not only values our unique strategy but also supports us in maintaining independence on both creative and publishing choices.”
Arrowiz CFO and Co-founder Michael Chua adds “Tencent is a major partner for us, and we are grateful for their confidence and commitment to our studio. We have grown the studio exponentially and it is our ambition to launch one title each year. This investment is part of the fuel that will help make this happen.”
Arrowiz previously received a seed round of $900K from an angel fund and other private investors to explore VR opportunities before establishing itself as a storyteller with its most recent title, Hermitage Strange Case Files, becoming an inspiration and foundation for its new strategy and future titles.
For more information on Arrowiz, visit Arrowiz.com.
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Established in 2016 by creatives and executives from CCP, Take-Two, Marvel Studios and Warner Bros. Interactive Entertainment, Arrowiz is an independent video game developer with offices in Shanghai, China and Irvine, California. Initially established to develop products for the VR market with BEATS FEVER (published by Sunsoft in Japan and by Arrowiz globally), the team reimagined its focus towards story-driven video games, with its initial launch HERMITAGE: STRANGE CASE FILES (published by Bilibili in China and will be published by Giiku Games globally) becoming the best-selling Chinese visual novel on Steam in 2019.
About Tencent Games
Tencent Games was launched in 2003, and has since grown into the leading global platform for game developer, publishing and operator, as well as operator of the largest online game community in China. It is dedicated to offering engaging and high quality and interactive entertainment experience for all players.
About Yooreka Studio
Yooreka Studio is a dedicated Chinese game publisher focusing on helping global audiences to discover enjoyable high quality games with outstanding longevity. Previous published titles include: Island of Deception, Streets of Rage 4, Neon Abyss and Xuan Yuan Sword VII.
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