Herbert Smith Freehills advised Mod.io on the deal.
Mod.io raised A$35 million (US$26 million) in a Series A capital raise. The round was led by Tencent with follow-on investments from LEGO Ventures, Makers Fund II, Play Ventures, Surge Ventures II (Sequoia) and Our Innovation Fund.
Launched in 2019, Mod.io’s platform was developed to assist game studios around the word to support user-generated content in the gaming space and now has 8.5 million users. The new capital will be employed to enable the company to increase its offering of cross-platform support and expand into new markets in the rapidly growing user-generated content gaming industry.
The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne (Picture), senior associate Wendy Tian, solicitor Roy Carbone, and graduates Stephanie Simm and Rachel Holland.
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