After in October last year having invested in Foxium, British online gaming investor Velo Partners has announced that it has exercised its option to invest further in the Tallinn-based company and in doing so demonstrate its increased commitment to the provider of creative online and mobile casino games.
The increase of the original investment serves to support the full-service game development studio as it further builds its portfolio of games.
Headquartered in Estonia along with offices in Sweden, Foxium is known to produce premium feature-rich slots games, having produced a number of quality online titles such as the popular Adelia The Fortune Wielder, Vampire: The Masquerade™ – Las Vegas, The Lost Riches of Amazon and the highly anticipated soon to be released Astro Legends: Lyra and Erion.
RNG Foundry is a gaming accelerator that was premiered in association with Velo Partners. The service endeavors to foster entrepreneurial gaming industry talent by supplying a mixture of technical resources, equity investment capital and distribution opportunities.
Chief Executive Officer for Foxium, Åke André, said that he is happy with the deal and that it reinforces the commitment by Velo Partners to its business and belief in its team. “Together we see great potential in our studio,” said André, according to the news release.
Evan Hoff, Director of Velo Partners, said, “Foxium is exactly the type of team we are excited about, producing premium and market-relevant content and we look forward to supporting them in their growth”.
And finally, RNG Foundry Program Director Mark McGinley, said, “Our objective is to source and invest in highly ambitious, talented and creative game studios. Foxium embodies all those key principles. Foxium is a flagship RNG studio and one we hold in very high regard. We foresee a very bright future for Foxium and look forward to watching them grow”.