NewGame Capital, a renowned venture capital fund famous for its pro-gambling focus announced its second investment in AlchemyBet, designer of games for mobile casinos in United Kingdom.
NewGame Capital was created by co-founders of Cashcade Patrick Southon and Simon Collins. The venture capital also enjoy supports of Bwin.Party Digital Entertainment, the operator of one of the most successful online casinos in United Kingdom.
The venture capital fund was created last year and initially received GBP 15 million from Bwin.Party and 1 million from the manager team itself. The goal of the fund is to support and invest potential start-ups operating in full compliance with British gambling laws. The scope of the investments covers all real money gambling destinations including, online, mobile, casual and social gaming platforms.
The first NewGame investment was to support Avatingo and included more than simply financial help. NewGame shared its connections, provided advice on the proper licensing and payment processing. All this was carried out in order to maximize the potential stemming from the initial investment.
Simon Collins had the following comments: “When you talk to young start-ups, they don’t have the first idea what they would do about tax or how to market and promote their services.”
AlchemyBet itself was created in Sheffield at the beginning of 2012 and has already launched its first mobile product – “Pocket Fruity” – an interesting mobile slot inspired by the classic fruit machines. The game comes with HD and HTML5 technology and is available in downloadable as well as Flash version. The game is compatible with most current mobile software platforms.