Türkiye’s first unicorn, Peak Games, spawned 82 startups, including 37 gaming companies
Startups founded by former employees of Peak, Türkiye’s first unicorn, raised a combined $914 million, underscoring the gaming company’s lasting influence on the country’s startup ecosystem.
The figure, based on data from Istanbul-based investment tracker Startups.watch as of Oct. 15, covers ventures launched by former Peak employees.
Founded in 2010, Peak gained global recognition with mobile games such as Toon Blast and Toy Blast. U.S. gaming company Zynga acquired it for $1.8 billion in 2020, paying half in cash and half in shares. (By the way I have a story here about startup investments in Turkey)
Peak’s legacy extends beyond the sale. According to Startups.watch, 108 former employees have founded 82 startups, including 37 gaming companies. The network has grown from 65 startups founded by 80 former employees in 2022, the data said.
Known as the “Peak Mafia,” the group draws comparisons with the “PayPal Mafia,” a network of entrepreneurs who emerged from the U.S. payments company.
Dream Games and Spyke lead funding
Two companies account for most of the network’s fundraising.
Dream Games, founded in 2019 by former Peak employees Soner Aydemir, Ikbal Namlı, Hakan Sağlam, Eren Şengül and Serdar Yılmaz, has become a major mobile gaming player with its hit title Royal Match. Its valuation later reached about $5 billion in a funding round involving private equity firm CVC and U.S. investment firm Blackstone.
Spyke Games, led by Peak co-founder Rina Onur Şirinoğlu, has four former Peak employees among its five founders. The company raised $55 million in a 2022 seed round led by Griffin Gaming Partners, followed by another $50 million across funding rounds in 2022 and 2024. Its total funding has reached about $105 million, startups.watch noted.
Together, Dream Games and Spyke account for roughly $573 million of the $914 million total. Other ventures include Ace Games, founded by Peak co-founder Hakan Baş, which has raised $31.5 million.
Early funding gains traction
The network’s influence is also changing investor appetite for early-stage gaming companies.
Dream Games bagged $57.5 million before releasing its first game, while Spyke’s $55 million seed round set a record in Türkiye at the time.
But funding remains concentrated. The five best-funded gaming companies have raised more than $736 million combined, according to an analysis of sector data, highlighting the uneven distribution of investment.
Image: ChatGPT
