19 Feb — 25 Feb / 2024

Weekly News Digest #8


# of announced deals
announced deals’ size
# of closed deals

Hi all,

Last week was relatively modest regarding investment and M&A news, so there is no featured deal analysis this time. You can learn about the previous week’s deals in the “Notable Transactions” section below.



US-based multiplatform games developer and publisher Monumental has acquired US-based mobile games developer Game Circus, primarily known for its social casino game Coin Dozer series, with a total download number of 400 million. Game Circus will be added to Monumental’s portfolio of over 40 mobile titles, focusing on expanding its presence in free-to-play casino games. Monumental’s recent acquisition of Kongregate further bolsters its indie gaming sector presence, with Modern Times Group (STO: MTG-B) retaining a 30% share in the combined company.


India-based gaming platform GameCentric has raised $1.5m in an angel round led by Bilal Merchant. The funding will help the company expand its user base across the MENA region. GameCentric plans to adopt new technologies, collaborate with industry leaders, and incorporate web3 elements by 2025.

UAE-based web3 gaming ecosystem and games developer Crystal Fun has raised an undisclosed sum from KuCoin Ventures. The studio’s portfolio includes games with web3 elements like MMORPG OUTER, SLG Endless War, RTS STARFALL2312, and rogue-like Survivor, available on PC and mobile.

Japan-based mobile and web3 games developer Mint Town has raised an undisclosed sum from NTT DOCOMO Ventures. The funds will support the development of several games, including Captain Tsubasa – RIVALS, a collectible card game based on the eponymous manga. The studio is also planning the global launch of its play-to-earn platform, MintTown. In Jul’23, the company raised $7m in a Series D funding round led by Jafco Group.

We want to thank MGVC, Taylor Wessing, and Xsolla for supporting this digest.

Frame 482023