4/23/2012 : NEWGAME BACKS ALCHEMYBET
Second high potential investment
The digital gaming-focused venture capital fund NewGame Capital, formed by Cashcade co-founders Simon Collins and Patrick Southon and supported by Bwin.Party Digital Entertainment, has reportedly made its second investment in mobile games developer AlchemyBet.
The fund set up towards the end of last year with an initial GBP 15 million investment from Bwin.Party and another GBP 1 million from the investment team was formed to invest in high potential start-ups in the monetised digital gaming arena including casual, social, online and mobile platforms.
NewGame Capital supports its new investments, its first being Avatingo , with more than just financial means, sharing its connections, delivering advice on licensing, payment processing and the like to ensure its investment reaches full potential – "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,” says Simon Collins.
Sheffield-based AlchemyBet earlier this year launched its new mobile brand "Pocket Fruity", a mobile casino slot game destination themed around the original fruit machine slot format. Featuring high definition and HTML5 technology, Pocket Fruity is available in both download and Flash and is compatible with most smartphone platforms.