Milky Tea attracts Aonic investment

Date Type Companies involved Size
April 13th, 2023 investment Aonic
Milky Tea
Not disclosed
Milky Tea attracts Aonic investment

British developer Milky Tea now has a new investor in Aonic.

The games group has acquired a majority stake in the Liverpool-based studio for an undisclosed sum. Aonic has replaced Milky Tea CEO Jonathan Holmes (pictured) as majority shareholder.

“We have had a great relationship with Aonic’s leadership team for multiple years," Holmes wrote.

"After we had decided to take the next strategic step in our development, we sat down with Aonic last April and immediately knew there was great potential in our collaboration. This new partnership is a fantastic opportunity and will allow Milky Tea to continue to go from strength to strength.”

Aonic co-founder Olliver Heins added: "The entire team at Aonic is incredibly passionate about Milky Tea’s exciting new IPs currently in the works, and with our shared vision, we believe our network can really support Milky Tea in making these games a success."

Milky Tea previously attracted investment from Chinese games giant Tencent. Back in 2022, Aonic put $35 million behind virtual reality specialist NDreams.

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Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.