Financial terms of the deal were not disclosed.
The firm, the international private equity arm of merchant bank China Development Financial Holding, led a $14m equity investment in the company in 2008 and helped it list on Korean exchange Kosdaq a year later.
CDIB said WeMade had more than doubled revenue and increased EBITDA by 73 per cent since its initial investment in the company.
WeMade specialises in multiplayer online games such as SilkroadR (pictured), Digimon Masters and Fantasy Football Manager.
HY Kim, managing director and head of CDIB Capital’s Korean operations, said, “We worked closely with the management team to accelerate WeMade’s business expansion beyond Korea, launch new games, and improve its investor relations efforts.
“We couldn’t be happier with the outcome nor with the experience of working alongside such a talented management team.”
CDIB president and CEO Lionel de Saint-Exupery added the firm had now returned more than $200m of capital in the past two years despite the “challenging macroeconomic environment”.
Copyright © 2012 AltAssets
You must be logged in to post a comment.