Tencent Backed Highguard: The Rise and Fall of a Raid Shooter
The free-to-play “raid shooter” Highguard, which garnered both anticipation and criticism upon its release, was reportedly financially supported by Chinese gaming giant Tencent, according to a report by Game File [1]. This backing remained undisclosed by both Tencent and the game’s developer, Wildlight Entertainment.
Secret Funding and Tencent’s Involvement
Wildlight Entertainment had consistently stated that Highguard was “fully funded” but did not reveal the extent of Tencent’s financial contribution. Sources familiar with the arrangement indicate that Tencent’s TiMi studio group was the primary financial backer [1], [2], [3], [4]. The reason for keeping the partnership confidential remains unclear.
Launch, Reception, and Layoffs
Highguard was first unveiled during The Game Awards in December 2025, with the event slot provided to Wildlight by host Geoff Keighley [1]. Despite initial hype, the game received largely negative reception from players and critics alike. Following its launch, Wildlight Entertainment underwent significant layoffs, impacting a large portion of its development team [3], [4].
Tencent’s Investment Portfolio
Tencent is the world’s largest video game company, with substantial investments in numerous gaming companies, including PUBG Mobile, League of Legends, Epic Games, and Ubisoft [1]. Its investment in Wildlight Entertainment adds to its growing portfolio of international gaming ventures.
Post-Launch Performance
Following the layoffs, developers reflected on the game’s development, suggesting that initial assumptions made from the game’s trailer contributed to its negative perception [3]. As of February 2026, Highguard has experienced a significant decline in player count, losing over 95% of its peak concurrent players on PC [4].
Wildlight Entertainment
Wildlight Entertainment has two physical locations, one in Los Angeles and another in Seattle [1]. The studio was founded by former Respawn Entertainment veterans with experience on titles like Titanfall and Apex Legends [4].