Dream Games, the Turkish mobile gaming company known for the popular game Royal Match, has raised $2.5 billion through loans and investment. This new deal values the company at around $4 billion to $5 billion, a big jump from its $2.75 billion value in 2022.
CVC Capital Partners is now the company’s exclusive equity investor.
The venture capital firm confirmed that it had acquired shares from previous investors, but the financial details were not disclosed.
Along with this significant investment, Dream Games is also working to grow globally. In March 2023, the company opened its first international office in London to help with this expansion. The goal is to reach more people and enter new markets. The London office will handle marketing and operations across Europe. Dream Games has hired key leaders to support this growth—Richard Hocking as Chief Marketing Officer and Anju Sethi as Chief People Officer.
Equity Investment: CVC Capital Partners is now the only equity investor in Dream Games. It bought shares from earlier investors like Balderton Capital, Makers Fund, Index Ventures, and IVP, who have now completely exited. However, Dream Games’ five co-founders still own most of the company.
Debt Financing: Along with the equity investment, Dream Games received over $1 billion in loans from Blackstone and other private lenders.
Valuation and Revenue: Dream Games is now worth between $4 billion and $5 billion. In 2023, the company made $1.5 billion in revenue but still had a pre-tax loss of $130 million because it spent a lot on marketing.
About Dream Games
Dream Games was started in 2019 by former Peak Games team members and quickly became a major player in mobile gaming. Its main game, Royal Match, became the top-earning mobile game in the world in 2023, beating Candy Crush Saga. In November 2024, the company released a sequel called Royal Kingdom, backed by a big marketing campaign. Dream Games stands out because it doesn’t use ads and earns money through in-app purchases.
The deal is expected to be completed in the third quarter of 2025. This will be a big step forward for Dream Games and will strengthen its position in the global mobile gaming market.
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