Velo Partners invests in Foxium

Velo Partners has opted to invest in game development studio Foxium in a move that will grant the latter access to RNG Foundry’s team and network.

Foxium, which has offices in Estonia and Sweden, has produced a host of online gaming titles and has partnerships in place with major operators such as Bet365, Leo Vegas, Mr Green, Betsson and Bet Victor.

The studio will now have access to RNG Foundry, which, launched in association with Velo Partners, is a gaming accelerator that aims to both work with and fund entrepreneurial talent in the gaming industry.

Åke André, chief executive of Foxium, said: “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.”

Ashley Sandyford-Sykes, programme director at RNG Foundry, added: “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.”