Haveli Investments Leads $100 Million Investment into Candivore, Developer of Hit Mobile Game Match Masters

Haveli Investments, a technology and gaming-focused private equity firm, has announced its acquisition of a minority interest in Candivore, the maker of the popular multiplayer match-3 puzzle game, Match Masters. The investment totals approximately $100 million and will be funded by Haveli VC Gaming Fund I.

Candivore, founded in 2018 and based in Tel Aviv, Israel, is an independent studio that specializes in developing mobile games. The team behind Candivore includes talented individuals such as 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). Their flagship game, Match Masters, has garnered over 50 million downloads and generated more than $300 million in revenue.

Haveli Investments expressed its excitement about partnering with Candivore, recognizing Match Masters as a clear category leader with a rapidly growing user base. Ophir Lupu, Senior Managing Director at Haveli Investments, stated, "We 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." Diwakar Rao, Principal at Haveli Investments, added, "With our experienced operating partner network, we are confident Haveli is well positioned to support Candivore through its next stage of growth and drive value creation."

Gal Goldstein, CEO of Candivore, expressed his enthusiasm for the partnership, saying, "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 United States and beyond and bring additional games to market over time."

Haveli Investments' investment in Candivore is a testament to their focus on the technology sector, particularly in software, data, gaming, and adjacent industries. The firm aims to partner with innovative companies, entrepreneurs, and management teams to fuel innovation and growth. Haveli Investments emphasizes diversity, equity, and inclusion in all its investments.

Candivore, founded in 2018, is a renowned mobile gaming studio based in Tel Aviv, Israel. The team at Candivore is made up of 70 highly engaged members who are passionate about creating amazing game experiences for their players. Their hit game, Match Masters, has been downloaded over 50 million times. Candivore has received investments from vgames, Union Tech Ventures, and O.G. Tech Venture Partners.

With this latest investment, Haveli Investments continues to expand its portfolio in the gaming industry. The firm has previously invested in Omeda Studios in London, known for their title Predecessor, and Behaviour Interactive in Montreal, the developer and publisher of the popular online game, Dead by Daylight.

Investments like the one Haveli Investments has made in Candivore demonstrate the growth potential in the mobile gaming market. Match Masters has already proven its success with millions of downloads and significant revenue generation. As the gaming industry continues to evolve and attract a wider audience, strategic investments and partnerships will play a critical role in driving innovation and expansion.

About Haveli Investments:

Haveli Investments is an Austin-based private equity firm focused on investing in high-quality companies in the technology sector. The firm provides equity and debt investments to software, data, gaming, and adjacent industries, partnering with innovative companies and management teams throughout their lifecycle. Haveli Investments' experienced team of investors and industry experts offer operational and strategic support to enable portfolio companies to drive innovation, growth, and profitability. The firm places a strong emphasis on diversity, equity, and inclusion in all its investments.

About Candivore:

Candivore is a leading independent mobile gaming studio based in Tel Aviv, Israel. With a team of 70 highly skilled individuals, Candivore is dedicated to creating exceptional gaming experiences. Their hit game, Match Masters, has achieved remarkable success with over 50 million downloads. Candivore's commitment to innovation and player satisfaction positions them as a key player in the mobile gaming industry.

In conclusion, Haveli Investments' recent investment in Candivore, the developer of the hit mobile game Match Masters, highlights the growing opportunities in the gaming industry. The partnership between Haveli Investments and Candivore is expected to drive further growth and innovation in the mobile gaming space, benefitting players worldwide. As the industry continues to evolve, strategic investments and collaborations will play a vital role in shaping the future of gaming.