IDG Capital Invests in Cloudcade to Drive F2P Innovation

Active Chinese VC IDG Capital has invested $1.55 million into the seed round of San Francisco and Montreal-based mobile gaming start-up Cloudcade.

"We have a great footprint in China and a deep understanding of the mobile gaming market in Asia. To sum it up, it's a very hot space to be in with a lot of fragmentation and very little innovation," IDG Capital commented on its reasoning.

"Cloudcade takes a different approach than the competition by demonstrating hyper-focus in creating original IPs for cross-platform distribution."

Retail demand

As for Cloudcade itself, it's been co-founded by CEO Di Huang, who is based in San Francisco, running marketing, biz dev and monetisation, and CTO Mathieu Rouleau, who runs the production team in Montreal.

It's staffing up with veterans including Johan Eile, previously a senior executive at THQ Montreal and a director at Ubisoft.

Details of the team's debut project has not been announced yet, but it will be a F2P "fantasy shop simulation game featuring strong economic ties and co-op between players".

You can find out more details about the company on its website.

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