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Riot Games Acquired By Tencent

socalTECH

Los Angeles-based Riot Games , the online videogame developer headed by Brandon Beck, said late Friday that Tencent Holdings has acquired a majority stake in the company. The firms said that Riot Games will continue to maintain its headquarters in Los Angeles, and has plans to "hire aggressively" in 2011.

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Riot Games Snags Mohn For Board

socalTECH

Los Angeles-based Riot Games , a venture backed developer of online games, said Wednesday that it has added Jarl Mohn to its board of directors. Riot Games is backed by online Chinese services firm Tencent, Firstmark Capital, Benchmark Capital, as well as angels Mitch Lasky and Rick Heitzmann.

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Riot Games Raises $8M

socalTECH

Los Angeles-based Riot Games , a developer of online video games, announced today that it has raised a new, $8M round of financing. The round came from Benchmark Capital, FirstMark Capital, and Chinese online services firm Tencent. READ MORE>>.

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March Capital Backs Video Game Developer Wavedash Games

socalTECH

Los Angeles-based venture investor March Capital Partners is the lead investor in video game developer Wavedash Games , which announced a $6M Series A funding round on Tuesday morning. The funding round also included Lowercase Capital, Advancit Capital, CourtsideVC, Machine Shop Ventures, Luma Labs, and Cherrytree VC.

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Pragma is a back-end toolkit for gaming companies, so game developers can focus on games

TechCrunch LA

These days, most of the games developed need to be social, multi-platform and extensible, but there are only a few developers with the expertise to bring those toolsets to the profusion of new games that crop up every year. In the game industry, a game can stay in beta for years as developers work out the kinks.

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Nix Hydra Gets $5M For Video Games

socalTECH

Los Angeles-based Nix Hydra , a startup video game development company led by Lina Chen and Naomi Ladizinsky, said this morning that it has raised $5M in a Series A funding. Nix Hydra develops video games aimed at young women, including Egg Baby and Hot Guy Alarm Clock. READ MORE>>.

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Battlefy Finds $1.3M

socalTECH

Battlefy , a startup developing an online platform for managing e-sports tournaments, leagues, and content--which is a graduate of the Amplify LA accelerator--said this week that it has raised $1.3M The company--now based in Vancouver, BC--helps organizers of professional video game tournaments and leagues.