Venture capital fund Vereeni Investments has agreed a strategic seven-figure deal with investment and M&A brokerage RB Capital to acquire a 20 per cent equity share in casino and slots development studio Kalamba Games.
The strategic partnership will accelerate the introduction of innovative new promotional and social capabilities to Kalamba operators, as well as raising the bar in terms of operator differentiation, player entertainment and profitability, a press statement reads.
According to Tim Heath, founding partner of Vereeni Investments, the combined expertise of Vereeni, RB Capital and the Kalamba management team will help position the supplier as a serious contender within slots development over the coming years.
“In less than two years, Kalamba Games has displayed the creativity and expertise required to make a major splash in slots development. By taking a significant equity share, we are confident that Vereeni Investments can help Kalamba Games reach the next level in its development,” Heath said.
“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.”
The investment will see Kalamba scale up its development teams in Krakow, build its Games Platform coupled with the engagement and retention tools, and set up a new head office in Malta.
Steve Cutler, CEO and Co-Founder, Kalamba Games, added:
“This fantastic deal is the next step on our journey to becoming the “greatest”. 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. 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.”
Kalamba is the latest company to receive a direct capital injection from Vereeni Investments. To date strategic investments include OneTouch, Sherpa, Coolbet, Global Gaming, Hexagon, The Games Company, Puntaa, Skrilla, Falcon Dive and Singular.