Wuthering Waves’ Kuro Games Taken Over by Tencent as Majority Shareholder

Chinese tech conglomerate Tencent has reportedly acquired a majority stake in the shares of Kuro Games, known for Wuthering Waves and Punishing: Gray Raven. Read on to find out what this means for both of these companies.

Tencent Takes 37% Stake In Kuro Games

Total Ownership Is Now Half

Tencent has acquired an approximate 37% of shares from Wuthering Waves’ developer studio, Kuro Games, increasing its holdings. Now, with a total 51.4% of the shares held by Tencent, and the subsequent withdrawal of two companies from the ranks of shareholders, Tencent has a controlling stake over the company’s shares, and is now the sole external shareholder of Kuro Games. The Chinese tech giant first invested in Kuro Games just last year in 2023, and has grown immensely since.

However, according to a Kuro Games insider as reported to Chinese news site Youxi Putao, Kuro Games will still remain independent despite the stake that the conglomerate has, similar to the operations Tencent has with League of Legends and Valorant’s Riot Games as well as Clash of Clans and Brawl Stars’ Supercell. This change will help create a "more stable external environment" and support its strategy for long-term independence, said Kuro Games in their official statement concerning the acquisition. Tencent has yet to officially comment on the matter.

Kuro Games is a Chinese game development company known for action RPG Punishing: Gray Raven, as well as their most recent title, this year’s open-world adventure RPG Wuthering Waves. Both games have seen a form of success, generating at least $120 million USD in revenue for each title, and are constantly receiving updates up until the present. Wuthering Waves even received a nomination for Players’ Voice in the upcoming The Game Awards.