Malta-based venture capital fund Vereeni Investments has entered into an agreement to acquire a stake in Brazilian game development studio Caleta Gaming.

Vereeni will pay a seven-figure sum to acquire a 25 per cent stake in Caleta, which has offices in Brazil and London and develops casino games such as China Charms, Fright Night and Magic Forest.

“Vereeni Investments is always looking for businesses with fantastic teams and high-growth potential, and Caleta certainly ticks these boxes,” said Vereeni founding partner Timothy John Heath. “Led by David Marcus and Fabiola Jaeger, Caleta has already established itself within the industry and is well-known for its innovative approach to technology and its world-class content.

“We are certain that with this investment, Caleta will be able to take the next step in its growth journey and become a major player in the provision of casino content.”

Caleta Gaming chief executive David Marcus commented: “The team at Vereeni Investments has an absolutely superb record in identifying and growing gaming businesses like ours, so when we were approached by Tim and the team, it was an easy decision to make.

“This investment will help Caleta grow by doing even more of what we do best. Being a member of the Vereeni network is going to be of immense value to us.”

The investment is the latest by Vereeni as part of its €100m Level Up investment fund, which has interests in OneTouch, Sherpa, Coolbet, Global Gaming, Hexagon, The Games Company, Kalamba Games, Puntaa, Skrilla, Moneyball, Triggy Bet and Singular.