Venture capital fund Vereeni Investments has agreed a strategic partnership with investment brokerage RB Capital to acquire a 20 per cent equity share in development studio Kalamba Games.
The deal, for an undisclosed seven-figure sum, will accelerate the introduction of new promotional and social capabilities to Kalamba operators.
Kalamba, which was founded in 2016, will also be better positioned to address region-specific market demands.
RB Capital has a track record of identifying up-and-coming companies within gaming while, for Vereeni, the investment in Kalamba complements the other brands in which Vereeni has holdings, including companies from across igaming, business intelligence, software development, crypto and blockchain verticals.
Tim Heath, founding partner at Vereeni Investments, said: “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.
“We are also thrilled to have struck this deal alongside RB Capital, which brings an unmatched level of experience across the igaming space.”
Steve Cutler, CEO and co-founder of Kalamba Games, added: “[Co-founder] 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.
“The investment gives us the ability to scale up the development teams in Krakow, 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.”
Julian Buhagiar, co-founder, RB Capital, 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.”
Based in Malta and founded in 2017 by Coingaming Group CEO Heath, Vereeni has made a series of strategic investments in the igaming industry, including OneTouch, Sherpa, Coolbet, Global Gaming, Hexagon, Skrilla and Singular.