Venture capital fund Vereeni Investments has agreed on an investment partnership with industry brokerage RB Capital to acquire a 20% equity share in hi-definition igaming development studio Kalamba Games.
The transaction is conducted for an undisclosed seven-figure sum and will seek to accelerate the introduction in game capacities for Kalamba partners, whilst accelerating the content provider’s commercial pipeline.
RB Capital specialises in identifying the industry’s best value investments, across all functions of gambling’s value chain.
Meanwhile, for Vereeni, the investment in Kalamba complements its existing market portfolio, in which the venture fund has invested in games content, business intelligence, software development, crypto and blockchain disciplines
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.”
Backing the investment, 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.”