Tencent makes major investment in Swedish horror game startup

Business & Technology

The Shenzhen-based tech giant continues to snap up game developers around the globe with a major investment in a startup Swedish gaming company.

gtfo
A screenshot from GTFO, a game from 10 Chambers Collective.

Chinese internet giant Tencent has bought a “major stake” in Swedish game company 10 Chambers Collective, reports Caixin. 10 Chambers Collective is best known for the game GTFO, a cooperative first-person shooter horror game.

  • GTFO “puts players in the shoes of prisoners sent deep underground to fulfill various tasks against hordes of monstrous creatures of unknown origin,” according to Gamerant.
  • GTFO has only been released in an early-access channel on the gaming platform Steam. The Tencent investment “should give 10 Chambers Collective the final push toward fully releasing GTFO.”

Tencent did not announce the size of the investment nor the equity stake acquired. What is clear, however, is that Tencent intends to be a globally dominant game publisher.

  • Tencent purchased a minority stake in French video game developer Voodoo two months ago.
  • Tencent already “owns League of Legends developer Riot Games and holds a large stake in Fortnite maker Epic Games [and] collaborates with U.S. industry leaders like Activision Blizzard and Electronics Arts,” per Caixin.  

What could go wrong? According to TechCrunch: “Some of the biggest names in online gaming in the United States have received letters from the U.S. government requesting information about their relationship with the multibillion-dollar Chinese technology company, Tencent.”