Indonesia: Game developer Toge Productions gets funding from Zhexin’s DNC

Toge Productions, an Indonesian indie game developer studio, announced today that it has received an undisclosed amount of funding from Discovery Nusantara Cpital (DNC), the investment arm of China-based game company Zhexin IT Co.

The early-stage funding will be used to accelerate growth, and help in bringing “high quality games from Indonesia to the global market”, according to Toge’s management team.

“Investment from DNC is not only limited to money, but also includes other strategic aspect namely network connection to the international games industry,” said CEO of Toge, Kris Antoni, in a press statement.

Antoni stated that the funding will undoubtedly help Toge strengthen its foothold in the Indonesian game industry.

“We want to change the world’s perception that Indonesia is only a market of consumers. We want Indonesia to be recognized as a country that produces world-class games,” he added.

Zhexin IT, DNC’s parent company, was established in 2010 as a game maker firm with only four staff. Since then, the company has grown to employ 260 workers and has a market capitalization of $4 billion. Zhexin IT’s shareholder is Zhejiang Jinke Entertainment Culture, which announced a partnership with Project Discovery Ltd to create DNC.

Last year, DNC also invested in Indonesian mobile game developer Touchten, which is known for games such as Target Acquired, Warung Chain: Go Food Express, and Rapstronaut. It participated in a series D funding round for Touchten along with other Chinese investors.

DNC had previously announced a $10 million fund to invest in games companies in Southeast Asia with a focus on Indonesia.

“When we look at the Indonesian market, we see many players that are just like the way we were in 2010,” Irene Umar of DNC had said.  “So we would like to help these players grow–not only by giving funds, but also by transferring accumulated knowledge, experience, and resources for fellow gaming industry players. Through DNC, we want to create a positive impact in Indonesian gaming industry.”

Also Read:

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Indonesia: HR tech startup Ekrut gets seed funding from East Ventures

Philippines: Xurpas buys out Fluxion, consolidating games app firm Xeleb

Indonesia’s MNC Group participates in Migme’s $7.58m private placement

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.