US private equity firm Haveli Investments, L.P. today announced that it has acquired a minority interest in Israeli mobile games company Candivore for $100 million. Texas-based Haveli says it will fund the transaction from Haveli VC Gaming Fund I, L.P.
Founded in 2018 and based in Tel Aviv, Candivore is an independent studio focusing on mobile games development, which is best known as the maker of the hit multiplayer match-3 puzzle game Match Masters, which has seen over 50 million downloads and generated more than $300 million in revenue to date.
The founding team includes Gal Goldstein (CEO), 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).
Haveli Investments senior managing director Ophir Lupu said, “Candivore’s Match Masters is a clear category leader with a rapidly growing user base and a talented, entrepreneurial leadership team. We are excited to partner with them on our first investment in the mobile gaming space and look forward to collaborating with Gal and the team at Candivore to capitalize on their success to date and help take the business to new heights.”
Goldstein added, “We are thrilled to partner with Haveli. This investment gives us access to capital, as well as Haveli’s team of top-tier investors and operating partners, enabling us to further grow Match Masters in the US and beyond and bring additional games to market over time.”
Published by Globes, Israel business news – en.globes.co.il – on August 14, 2023.
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