Casumo investor grows portfolio with UK slots investment
A Group of Friends acquires a 20% stake in London-based firm Push Gaming
Swedish venture capital group, A Group of Friends (AGOF), has acquired a 20% stake the London-based slots developer Push Gaming.
The development studio specialises in producing mobile slots in HTML5 and provides its games to Ladbrokes Coral, Betsson and other top tier firms.
Push Gaming raised a further £2m in funds during the summer to grow the business and develop its studio.
“AGOF Investment have fantastic knowledge of our market, from supplier and operator side through to markets and regulations, these were some of the reasons we decided to partner with them,” Push Gaming CEO James Marshall said.
“Above this, AGOF are an extremely ambitious company and they matched the ambitions of Push Gaming’s executives.”
AGOF co-founder Nicolai Chamizo, who previously worked in M&A and investor relations within the egaming industry, now sits on the supplier’s board of directors.
AGOF has added a number of online gambling companies to its portfolio in the last year, including Malta-based supplier Casumo.
Chamizo told EGR Intel the group had also invested in a media relations company in financial services called Investoo Group, as well as Swedish mobile gaming company FunRock.
“80% of our capital we are looking to invest into the igaming industry and 20% we are looking to be more flexible with,” Chamizo said.
“There we can look at lead-generation and esports perhaps. Esports with a betting touch is something we’re very interested in.”
Chamizo also hinted at two further industry deals that are currently in the pipeline.