Highguard Studio Wildlight Reportedly Backed by Tencent's TiMi

A new report claims Tencent subsidiary TiMi Studio Group served as the “lead financial backer” of Wildlight Entertainment, the developer of Highguard. The claim is based on anonymous sources familiar with the arrangement, which was never publicly disclosed, Game File reported. 

Details, including the scale of funding, its timeline, and whether the support continues, remain unknown. Neither Tencent nor Wildlight publicly addressed the report. 

Wildlight was established in 2023 by former Respawn Entertainment developers. At launch, the studio said it was “fully funded” and “quietly working on a new IP.” CEO Dusty Welch later characterized the company as “an independent studio without the support of a big organization." He added it does not “speak publicly about [its] business, economics, and financials.”

Tencent Investment Activity Frames Undisclosed Wildlight Backing

Sources familiar with the funding did not clarify why TiMi’s involvement was kept private or how extensive the financing was. 

Despite the reported backing, Wildlight remains technically independent. This reflects standard industry practice where external investors fund development without operational oversight.

Tencent maintains stakes across multiple Western game companies, including minority ownership in Epic Games and majority control of Riot Games. The firm has also invested more than $1 billion USD into Ubisoft subsidiary Vantage Studios, and acquired a 15% stake in Arrowhead Game Studios following Helldivers 2. 

TiMi’s connection to Wildlight, however, was never formally listed.

Highguard received mixed reception after its reveal at The Game Awards in December 2025, with Welch saying he wished it “had been received better.” The Game File report also coincided with the sudden removal of Highguard’s official website.

The disclosure emerged shortly after Wildlight laid off an unspecified number of employees, calling the move “an incredibly difficult decision.” The studio retained a core team to continue supporting Highguard.