Brazilian gaming company reaches $3 billion valuation with new investment

SAO PAULO (Reuters) - Brazilian gaming company Wildlife Studios said on Friday it had raised $120 million from Vulcan Capital, a fund tied to Microsoft co-founder Paul Allen, which now values the company at $3 billion.

Wildlife, which develops mobile games, had already become a unicorn last December with a $1 billion valuation, after raising $60 million from the US hedge fund Benchmark Capital.

Overall, Wildlife has raised $250 million.

“Wildlife has shown it has a unique capacity to develop, launch and sustain different titles in diverse genres in a sustainable way, resulting in a growing and lucrative trajectory,” said Rafael Costa, a partner at Vulcan. The fund has also invested in Epic Games and Spotify.

Wildlife was founded in 2011 and said it wants to use the funds to carry out new acquisitions and become a gaming platform for mobile devices. Among its more popular games are “Tennis Clash and multiplayer online game “Zooba.”

Reporting by Peter Frontini; Editing by David Gregorio