Tencent Says Elden Ring and Baldur’s Gate 3 Are “North Stars” as It Seeks to Build the Next FromSoftware and Larian

Tencent is looking beyond individual hit games as it attempts to build studios capable of producing major RPGs on the scale of Elden Ring and Baldur’s Gate 3. According to Tencent Games VP and Head of Operations, Strategy and Compliance Yong-yi Zhu, the two games and their respective developers, FromSoftware and Larian Studios, represent “North Stars” for the company’s approach to developing and supporting studios.

Zhu discussed Tencent’s strategy in an interview with Christopher Dring of The Game Business published on September 29, 2026. He explained that Tencent is primarily interested in developers with strong creative identities and the ability to steadily improve within a particular genre rather than simply chasing games that are successful in a specific region. 

For Elden Ring fans, the comparison is particularly notable because Zhu pointed to FromSoftware’s progression across multiple games as an example of how a studio can eventually produce a massive breakthrough.

Tencent Wants to Build Studios Over Multiple Games

Zhu said Tencent’s focus is on finding “high-quality talent” and developers bringing “unique visions” while continuing to refine their craft. He specifically identified Larian and FromSoftware as examples because both studios spent years working within recognizable genres before reaching their biggest commercial and critical successes.

“The studios we always cite as kind of, for us, our North Star, like Larian, From Software, they’ve been in a particular genre for a long time and iterating on that genre,”

Zhu said during the interview with The Game Business. 

That philosophy means Tencent is not necessarily expecting a studio to produce its biggest game immediately. Zhu said the company wants to work with developers who believe they can eventually become category leaders, whether that happens with their current project or after two or three more games.

“We want to work with you if you believe one day you can be the category leader in this particular genre,”

Zhu explained.

“That could be today, that could be two games from now, three games from now.” 

Elden Ring’s Success Came After Years of Iteration

Zhu also used the histories of Larian and FromSoftware to explain why Tencent believes long-term development can produce major results. Larian’s path to Baldur’s Gate 3 included multiple Divinity games, while FromSoftware’s evolution moved through Demon’s Souls, Dark Souls, Bloodborne, and eventually Elden Ring.

“It was multiple Divinities into Baldur’s Gate,”

Zhu said.

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“It was Demon’s Souls into Dark Souls into Bloodborne and then finally into Elden Ring, which was so big.”

The comparison does not mean Tencent is specifically looking to create another Elden Ring. Instead, Zhu’s comments indicate that the company wants developers to develop a recognizable specialty and improve it across multiple releases. He described this as Tencent’s “long game approach” and said it is part of the company’s commitment to working with developers for many years. 

That strategy is also relevant to Tencent’s existing investment portfolio. Tencent has a significant stake in Kadokawa, FromSoftware’s parent company, while Kadokawa continues to identify FromSoftware as one of the core studios within its gaming business. 

Tencent Is Also Balancing Long-Term Development With Live Service Games

Zhu’s comments come as Tencent continues to operate a broad portfolio that includes both premium games and long-running live-service titles. He argued that evergreen games can provide a more consistent release and revenue cycle than relying entirely on large premium releases separated by several years.

At the same time, Tencent has not been insulated from the wider games industry downturn. The company has faced studio reductions and restructuring as it adjusts its global strategy, making Zhu’s emphasis on long-term studio development particularly notable.

For Elden Ring fans, however, the central takeaway is straightforward. Tencent sees FromSoftware’s journey from Demon’s Souls to Elden Ring as an example of what can happen when a talented studio is given the opportunity to repeatedly refine its craft instead of being judged on a single release.