US-based private equity firm, Haveli Investments, L.P., has recently made an announcement regarding its acquisition of a minority stake in Candivore, an Israeli mobile games company. The deal, valued at $100 million, is set to be financed through Haveli VC Gaming Fund I, L.P.
Candivore: A Rising Star in Mobile Game Development
Candivore, established in 2018 and headquartered in Tel Aviv, has emerged as an independent studio dedicated to the development of mobile games. The company’s standout creation, the multiplayer match-3 puzzle game called “Match Masters,” has achieved remarkable success, boasting an impressive record of over 50 million downloads. This accomplishment has translated into a substantial revenue exceeding $300 million up until the present time.
A Dynamic Team Behind the Success
The driving force behind Candivore’s achievements lies in its visionary team. This ensemble is led by Gal Goldstein, who serves as the CEO, along with other key figures including Ehud Rosenberg (Product and R&D Lead), Sahar Azran (CTO), Alon Shkedi (Client Developer Lead), Tom Amel (Backend Developer Lead), Zur Tamam (Chief Creative Officer), and Ilya Agron (COO).
Strategic Outlook and Collaboration
Ophir Lupu, the senior managing director at Haveli Investments, expressed enthusiasm about the partnership with Candivore. Lupu highlighted that Candivore’s flagship product, “Match Masters,” has solidified its position as a leader in its category and has been steadily expanding its user base. Haveli looks forward to working alongside Candivore’s accomplished leadership team to leverage the existing achievements and explore new horizons for the business.
Candivore’s Perspective and Future Prospects
Gal Goldstein, CEO of Candivore, conveyed their excitement regarding the collaboration with Haveli. Goldstein underlined that this investment would not only provide access to capital but also offer the expertise of Haveli’s team of seasoned investors and operating partners. This synergy is anticipated to facilitate the further expansion of “Match Masters” within the US and beyond, while also opening doors for the introduction of additional games in due course.
TL;DR:
Haveli Investments, a US private equity firm, has acquired a minority stake in Israeli mobile games company Candivore for $100 million. Candivore is renowned for its hit game “Match Masters,” with over 50 million downloads and $300 million in revenue. The collaboration aims to amplify the game’s success and venture into new territories, benefitting from Haveli’s expertise and resources. Candivore’s CEO, Gal Goldstein, looks forward to utilizing this partnership to expand their game’s presence and introduce more titles to the market.
Hi, I’m Oren, founder at BIGINTRO, a content strategy agency that helps B2B companies drive growth. We develop search, social, PR, and content marketing strategies tailored to business goals. I also have a dog named Milo.