Based in Malta, we accelerate the potential of companies by leveraging our insight, network and access to strategic capital.
€100m tech fund
Dongqiudi is popular football media company and community boasting a worldwide user base in excess of 50 million. Its flagship Chinese-facing DQD football app (All Football app for international markets) provides news, commentary, league ranking and video streams of football across the world. The company raised $61 million in series C financing from investors including Chinese home appliance firm Suning and Sequoia Capital China.
OneTouch is a provider of world-class, mobile-first casino content to leading gaming operators. Its portfolio of titles includes the world’s best mobile Baccarat product, as well as a selection of premium games designs to perform flawlessly across all handheld and desktop devices. OneTouch games are driven by Provably Fair RNG, retina-ready graphics and powerful free bets system to reward loyal players.
Global Gaming is a disruptive gaming operator listed on Stockholm’s Nasdaq First North exchange. The operator’s flagship Ninja Casino brand has revolutionised the gaming sector in the Nordics with its proprietary PayNPlay solution, which allows players to enjoy a safe a seamless online casino experience without the hassle of a lengthy registration process. Global Gaming was recently named Operator of the Year at the 2019 EGR Nordics Awards.
Moneyball is Australia’s first daily and weekly fantasy sports platform, providing NRL, AFL, EPL, NFL, RWC and NBA contests tailored specifically for the market. With a focus on increasing fan engagement in Australian sports, the platform is helping to grow participation in crowd attendance, viewership and club membership. It also operates moneyball9.com in the fast-growing Indian market, where DFS products are treated as a game of skill.
Kalamba Games Games is the gaming industry’s most engaging slots from a team focused on UX and gamification. Based in Malta and Krakow, it provides games to both the real-money and social gaming spaces, and is led by two industry veterans. Kalamba’s games deliver up to a six- times increase in player engagement and retention, a far slower game degradation and a much higher earning tail than the industry standard.
Hexagon is a digital design agency based in Kiev. It converts business ideas into high-end digital products by creating useful, spectacular and efficient solutions for customers. It employs a young and fast-growing team of designers and creatives to turn the vision of its customers into exciting, real-world products.
Coolbet is an Estonian-headquartered casino, sportsbook and poker operator with a fast-growing user base across the Nordics. With a team of more than 100 based in Tallinn, the Estonian-licensed operator offers a wide range of gaming products based on its proprietary software. Led by Jan Svenson and Anders Karlsen (ex-NordicBet) and an experienced executive team, Coolbet is also blazing a trail in the field of responsible gambling.
Sherpa is an insurtech company using technology to help people navigate the complex world of insurance. The Sherpa recommendation algorithm evaluates customers on a human level, understanding risks, lifestyles and requirements to make truly personal recommendations, with the aim of delivering an easy, flexible and trustworthy experience.
Singular is a provider of a universal gaming platform to some of the industry’s fastest-growing operators, including Georgia’s biggest bookmaker Adjarabet. The Singular platform offers a complete solution entailing casino, sportsbook, poker, virtual sports and retail. It also incorporates a powerful back office system, more than 20 payment providers and advanced database management.
Skrilla is a next-generation esports wagering and entertainment platform. Its daily fantasy esports product is live in Australia offering tournaments across all major esports. Skrilla also operates its own proprietary cryptocurrency, Skrilla Token (SKR), which is used as a medium of exchange on its platform. The company is committed to driving innovation across the esports space.
Blockchain Innovations Corp.. is a designer and developer of market-ready blockchain technology for real-money wagering and peer-to-peer gaming companies across the globe. Its smart contract platform and wallet are designed specifically for sports betting, esports, lottery, daily fantasy and pari-mutuel wagering. It recently acquired casino development house The Games Company, which Vereeni initially invested into, to bolster its product offering with a highly-regarded library of content.
Tim founded Vereeni in 2017 with the intention of drawing on his experience across the gaming, blockchain and technology spaces.
In his spare time, Tim is an accomplished poker and squash player and Captain of the Estonian national cricket team.
He has more than ten years of experience, both academic and professional, across the finance and investment sectors.
He previously served as head of cash-flows and a member of the supervisory board for multinational currency exchange and investment gold and silver dealer Tavex Group. He has also spent time as a day trader for a boutique investment firm specialising in US equity.
In his spare time, he enjoys ice swimming, backgammon and football.
Julian Buhagiar is an investor and co-founder of RB Capital, a specialist M&A and funding brokerage in gaming, fintech and media.
RB Capital has brokered deals in excess of $340m, and has experience funding, building and selling business across several blue-chip verticals, with a particular expertise on key issues within affiliate networks, blockchain and digital rights management.
Anne Veerpalu draws on extensive experience advising local and international clients on all aspects related to corporate law, private equity and M&A.
She is a visiting assistant professor at the University of Tartu IT Law programme, runs a tech startup legal clinic and is a respected advisor of high-growth companies. Anne is also a co-organiser of the Estonian Legal Hackers Meetups and an avid blockchain technology enthusiast.
Sven Burchartz is a managing partner at Australia-based law firm Kalus Kenny Interlex.
He has spent the past 30 years helping people build and protect their businesses. He manages and advises on how to achieve the best commercial outcome and avoid and resolve disputes, often as the lead negotiator on their significant business transactions. His areas of expertise include commercial and property litigation, commercial law and providing advice on complex business risk issues.
Vereeni Investments has acquired 20% of the company for an initial consideration of €5 million, with the potential for this to increase after 13 months based on future performance.
The decision to invest comes after a thorough search for an innovative company within the online betting industry. Singular’s potential for exponential growth is set to further boost Vereeni’s portfolio, while Singular stands to benefit from the wealth of shared knowledge and experience within Vereeni’s existing investment ecosystem.
Singular joins Vereeni Investments’ newly unveiled €100 million tech fund ‘Level Up’, along with a host of promising international early stage ventures within the fintech, media, iGaming, business intelligence, software development, crypto and blockchain verticals.
Vereeni’s curated investment ecosystem opens further expansion opportunities for Singular, as well as opportunities for additional operational investments that will be fuelled by the provider’s unique technology.
The company upgrades its products through a continuous release of new features, always staying one step ahead of the industry. This consistent drive for development substantially influenced Vereeni Investments’ decision to pursue its investment in Singular.
“Singular’s extensive software solutions offer significant value to our portfolio, which has already begun strengthening their position with the experience, network and tools freely available within ‘Level Up’.”
“Vereeni Investments has vast experience of investing in up-and-coming opportunities through acquisitions, joint ventures or the development of operations. The venture capital fund strives to accelerate the potential of each investment by utilising the portfolio’s united insights, network and access to strategic capital. All companies involved with the fund share a commonality of proven success and a reputation as innovators within their respective fields,” Heath added.
Darko Gacov, Chairman of the Board of Directors, Singular, said: “We are more than pleased to welcome a new shareholding partner with such a strong investment network and expertise in the industry. What makes this partnership such a good fit is the substantial experience both companies have in complementary fields.
“The partnership has the potential to further expand Singular’s presence, not only geographically, but also in new industry directions. As a result of this partnership we are already looking at three major new clients in different regions that will be powered by Singular’s technology.
The deal is based on a seven-figure investment in return for 20 per cent of Kalamba. 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.
It will also empower Kalamba to better address region-specific market demands at a time when the global gaming landscape is becoming increasingly fragmented.
Kalamba, which was founded in 2016 and that has already launched a range of high performing titles, was selected for the investment after showing high growth potential. RB Capital has a strong track record of identifying up and coming companies within the gaming space.
The investment in Kalamba will complement the other innovative brands in which Vereeni has holdings, including companies from across the iGaming, business intelligence, software development, crypto and blockchain verticals.
It will also give Vereeni and RB Capital the opportunity to work alongside several experienced industry names, such as Kalamba co-founders Steve Cutler and Alex Cohen.
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.
“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.”
Steve Cutler, CEO and Co-Founder, Kalamba Games, said: “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.
“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.”
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.”
Kalamba Games has already built a strong reputation within iGaming and was nominated for the ‘Game to Watch’ award at ICE 2018, as well as the ‘Software Rising Star’ and ‘Innovation in Slots Provision’ awards at the Egaming Review B2B Awards 2018.
Kalamba’s dynamic teams based in Malta and Poland have already released 11 titles in less than a year from first game launch, aided by an experienced management team dedicated to making operators more profitable via higher player lifetime values and marketing ROI.
Kalamba is the latest company to receive a direct capital injection from Vereeni Investments. Based in Malta and founded in 2017 by Coingaming Group CEO Tim Heath, Vereeni has crafted a thriving ecosystem of complementary investments through meticulous searching.
To date Vereeni has accumulated a wealth of strategic investments aimed at aiding and advancing the iGaming industry, including companies such as OneTouch, Sherpa, Coolbet, Global Gaming, Hexagon, The Games Company, Puntaa, Skrilla, Falcon Dive and Singular.
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Venture capital fund Vereeni Investments had made its latest move with a significant investment into Australia’s leading daily fantasy sports operator Moneyball.
The agreement will see Vereeni acquire a majority stake in Moneyball in return for a seven-figure investment.
Launching in 2015, Moneyball was the first Australia-facing daily and weekly fantasy sports operator and is powered by an innovative proprietary platform.
It holds licences applicable to all Australian states and offers a range of contests across multiple sports, including NRL, AFL, EPL, NFL, NBA, PGA, MLB, horse racing, and cricket.
The operator is also expanding internationally with a growing presence in India since 2016, and expects to be live in the US soon with other markets set to follow.
Timothy John Heath, founder and CEO of Vereeni Investments, said: “Acquiring a stake in Moneyball adds another important and complementary asset to the Vereeni ecosystem.
“Moneyball is already established as Australia’s number one daily fantasy sports platform, and we see huge potential for further growth, both in Australia and internationally.
“As an operator that has innovated from the outset, Moneyball is a perfect fit with Vereeni and we are excited to see what the future holds.”
James Fitzgerald, co-founder and co-CEO of Moneyball, said: “We are absolutely thrilled to have Vereeni Investments onboard.
“Becoming a part of the Vereeni family positions us strongly for further growth, giving us access to unparalleled global reach and expertise within the gaming sector.
“Daily fantasy sports is still a massively underserviced sector with potential to grow much faster than the broader market. We have spent the last three years searching for a partner to help us deliver on this potential, and in Vereeni we have finally found one.”
Moneyball joins Vereeni’s €100million ‘Level Up’ tech fund alongside a range of other promising early-stage ventures across the fintech, online gaming, business intelligence, insuretech and blockchain verticals, including Global Gaming, OneTouch and Singular.
Source: Latest News on European Gaming Media Network This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Vereeni Investments adds Moneyball stake to fast-growing portfolio
The deal will see Vereeni make an initial six-figure investment in Flax in return for “significant” equity in the business.
Founded in 2017 by Björn Nilsson, Daniel Svenson and Stefan Thunberg, Flax recently launched Triggy, an app that provides live scores and betting odds to customers of LeoVegas and Sportsbet.io.
The app helps operators engage players and increase revenue via relevant live score messaging and personalised betting suggestions.
“One of the biggest challenges facing the online betting industry is finding new ways to genuinely engage our customers,” said Vereeni Investments founder and owner Timothy Heath. “Flax Innovations’ have shown a unique approach to this problem with its Triggy product.
“We are excited to use the Vereeni Investments network to provide Triggy with the audience it deserves, while also investing in the Flax Innovations team to create new, disruptive sports betting products that can help drive our sector forward.”
Flax Innovations co-founder Björn Nilsson commented: “We are thrilled to receive this investment from Vereeni. While the money will help take our business to the next level, becoming a part of the Vereeni network will also have huge benefits when it comes to creating and delivering products that change the face of sports betting.
“We share Vereeni’s vision for the betting and gaming industry, and firmly believe that innovation and disruptive product development is necessary to meet the demand from players of all levels.”