Cashcade co-founders Simon Collins and Patrick Southon have announced the formation of a new digital gaming venture capital fund to be supported by Bwin.Party Digital Entertainment PLC.
New Game Capital, as the fund will be called, has been set up with an initial £15m investment from the online gambling giant with the intention of investing in high potential start-ups in the monetised digital gaming sphere.
Since leaving day-to-day operation at Bwin.Party Simon and Patrick have been tasked with developing the fund to ensure that their former colleagues at Bwin are at the vanguard of new developments and innovations in the realm of real-money, virtual currency and social games.
And as promised the team have begun to deliver with today’s announcement of their first foray into the investment market with a first round investment in social bingo provider Avatingo. Commenting on the investment New Game Capital described Avatingo as a “multi-platform virtual world with a personalised social bingo experience.”
Patrick re-affirmed the fund’s commitment to social gaming saying “casual games have brought digital gaming into the mainstream of the global entertainment industry and have attracted millions of new users to gaming over the past five years.”
For further information on New Game Capital or to contact the team you can fill out the contact form here.
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