Malta-based venture capital fund Vereeni Investments has partnered with brokerage firm RB Capital to acquire a 20 per cent stake in casino games development studio Kalamba Games.
Vereeni Investments, founded by Coingaming Group chief executive Tim Heath, has agreed a strategic partnership with RB Capital for the seven-figure investment.
Kalamba was established in December 2016 and operates studios in Malta and Poland, releasing 11 new slot titles in the past year including Atlantic Thunder, Bangkok Dreams, and Monkey God.
“In less than two years, Kalamba Games has displayed the creativity and expertise required to make a major splash in slots development,” Heath commented. “By taking a significant equity share, we are confident that Vereeni Investments can help Kalamba Games reach the next level in its development.
“We are also thrilled to have struck this deal alongside RB Capital, which brings an unmatched level of experience across the iGaming space. This investment is the latest exciting addition to Vereeni’s ‘Level Up’ investment fund, which is helping numerous innovative young companies scale competitively.”
To date, Vereeni has invested in a number of companies involved in the iGaming sector including OneTouch, Sherpa, Coolbet, Global Gaming, Hexagon, The Games Company, Puntaa, Skrilla, Falcon Dive and Singular.
“Alex Cohen and I, as well as the whole team at Kalamba, are very excited that we have joined forces with Vereeni and RB Capital, who bring the financial resources and strategic capital that match our vision for being a tier one supplier in the casino games industry,” Cutler said.
“The investment gives us the ability to scale up the development teams in Krakow [Poland], maintain our already aggressive velocity and build the Games Platform coupled with the engagement and retention tools, that the industry still desperately needs. We will also be setting up the new head office in Malta, where we will continue to strengthen the business development, marketing and finance teams.
“Working with Tim, Julian and their teams will accelerate the vision we set ourselves two years ago when we saw the obvious gaps in the market,” Cutler added. “2019 will be a very important year for us and we are looking forward to surpassing the ambitious goals we have, as well as firmly cementing our position as the next generation games powerhouse.”
RB Capital co-founder Julian Buhagiar said: “It is truly a pleasure for us to be working with Steve, Alex and all the team at Kalamba. We’ve been watching them closely for a while now, and in a short time they have built a very compelling games portfolio.
“It is very exciting to be supporting their efforts to acquire new territories with their disruptive content. We see significant opportunities for growth ahead for Kalamba.”