Foxium and Velo Partners inks investment deal

Business News

Velo Partners have invested into the game development studio Foxium. The investment will give Foxium access to RNG Foundry’s team and network.

Foxium, with offices in Estonia and Sweden, is a full service game development studio with a decade of gaming experience. The company has produced a number of online titles, such as The Odd ForestLost Riches of AmazonFruitzLucky Bakery and Big Time Journey, which are rich in story and features, and have gone live with industry leading operators such as bet365, Leo Vegas, Mr Green, Betsson, Bet Victor and ComeOn.

RNG Foundry is a gaming accelerator launched in association with Velo Partners, the UK’s most active gaming investor. The accelerator aims to work with, and fund, entrepreneurial talent in the gaming industry, providing a blend of equity investment capital, technical resources and distribution opportunities.

Åke André, CEO at Foxium, comments: “I am really delighted that we have inked this deal with Velo Partners and the RNG Foundry. Foxium has in the past been approached by several investors but for one reason or another it has never felt right. With Velo Partners, we felt for the first time we had an investor that had the same values, culture and vision as we do. Through Velo Partners and the RNG Foundry, we are able to strengthen our company in some critical areas, specifically speed to market and distribution of our games. I have great respect for the team at Velo Partners and RNG Foundry. It will be a pleasure having them on board as we take Foxium to the next level.”

Ashley Sandyford-Sykes, Programme Director at RNG Foundry, comments: “Foxium has all the ingredients for a successful games studio and we look forward to building world class casino games content for our distribution channels. Foxium illustrates the ability for dynamic, forward thinking studio that responds to market needs.”