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The Venture Codex

Ludus Ventures

Levent Mah. Zambaklı Sk. No:6, Beşiktaş, İstanbul, 34330, Turkey

Overview

Ludus finds, invests in, and nurtures the best-in-class gaming startups. We aim to pioneer the venture studio model in Turkey by providing in-house expertise, strategic guidance, and funding for entrepreneurs and start-ups.

Total investments
8
Lead investments
3
Investments · 12mo
0
Active investors
1

Sector focus

  • Finance
  • Impact Investing
  • Venture Capital
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Investment portfolio

  • TaleMonster

    Participated · Seed · May 2025

    TaleMonster Games was founded by former Peak Games veterans to push the boundaries of casual mobile gaming. Its debut title, Match Valley, blends classic puzzle play with hero and tower-defence elements, delivering higher user engagement and longer average playtimes than typical genre peers. The team believes modern casual players demand greater depth, and it aims to satisfy this by producing broadly appealing games with distinctive mechanics. Early traction for Match Valley has validated the approach, with investors highlighting strong monetisation and retention metrics. Financially, the company has now raised a total of $37 million, comprising a $7 million seed round closed eight months ago and the new $30 million Series A. The fresh capital will fund continued development of Match Valley and the expansion of TaleMonster’s game portfolio, supporting its mission to surprise and challenge players.

  • Mage

    Participated · Equity · Apr 2024

    Mage Games provides a platform designed to accelerate production timelines for game studios so they can develop higher-quality titles more quickly. The company also develops and publishes mobile games in-house. Its team is experienced with successes on global projects and is focused on building competitive PvP games. Mage Games is simultaneously working on a platform specifically aimed at shortening PvP game development cycles. Leadership says the startup will use recent funding to expand the team and move toward its long-term objectives more quickly. Public statements emphasize both product development and studio-capability acceleration as core priorities.

  • Midas Games

    Led · Seed · Mar 2024

    Midas Games develops skill-based and competitive games with a team experienced in mobile game development, publishing, software development and game law. The company was founded by Selçuk Korateş, Hikmet Duran, Fatih Karadeniz, Mert Ulutaş, Emre Öztürk and İlkim Ülgen. Together the team achieved 25 million downloads at Gigantic Games prior to forming Midas. CTO Fatih Karadeniz previously led the creation of the first internet branches of stock exchange brokerage houses and built the technical infrastructure of Turkey's largest Mobile Marketing platform. Before Midas, CEO Selçuk Korateş worked at Rollic, which was acquired by Zynga. Midas aims to release its first games in the second half of 2024 and is positioning to develop scalable titles to reach millions of players worldwide.

  • ShapesXR

    Participated · Seed · Aug 2023

    ShapesXR is a creation and collaboration platform for XR content and experiences that enables remote product teams to brainstorm and ideate in 3D, rapidly prototype, and co-edit in real time. Users can create immersive storyboards to show designs in function and invite teammates to ideate, iterate and run design reviews. Led by CEO and founder Inga Petryaevskaya and based in San Mateo, California, the company focuses on tools for XR and metaverse workflows. ShapesXR recently raised $8.6M in seed funding to support growth and development. The company intends to use the proceeds to grow its business reach and expand the product onto new platforms such as Apple’s Vision Pro and the Magic Leap 2. Investors named in the articles include Supernode Global, Triptyq Capital, Hartmann Capital, Geek Ventures, Boost VC, LETA Capital, WXR Fund and STRATMINDS, alongside early backers like HTC VIVE and The VR Fund.

  • Monetizr

    Participated · Equity · Aug 2023

    Monetizr is a mobile games advertising platform that works at the intersection of gamers, publishers, and brands to deliver immersive brand experiences within gameplay. The platform enables brand managers to buy scalable, cost-effective ads across a data-driven consumer engagement system while helping publishers monetize games through a new class of in-game ad assets. It focuses on game-enriching experiences that provide repeated and varied storytelling opportunities rather than background decorations. On the backend, its SDK delivers anonymous consumer behavioral data that the company says is critical given upcoming Apple privacy changes affecting cookies and in-app data. Monetizr already works with major CPG brands like Procter & Gamble and game developers such as Voodoo. After raising $4M, the company plans to expand sales teams in North America and strengthen technical and product development hiring in its development hubs. Monetizr provides a platform that lets game publishers sell high-quality, game‑associated products in‑game and reward players for time spent and points earned. The company says its tools can increase ARPU by up to 25% by driving player attention and purchases of limited items. Brands can use Monetizr to reach targeted user groups with tailored advertising profiled by interests, location, purchase history and in‑game behaviors. The company plans to develop an API that uses machine learning to measure player engagement and identify emotional "driving factors" to boost conversion rates. Monetizr also intends to introduce a blockchain‑based universal currency allowing players to earn tokens for time, skills and money in one game and spend them in another. The company is San Francisco–based and was founded in Latvia by Andris Merkulovs (CEO) and Martins Bratuskins (COO).

Team

  • Ismet Gökşen

    Founder & Managing Partner

    LinkedIn