Haveli Investments Takes Minority Stake in Candivore with $100 Million Investment

Haveli Investments, L.P., a tech and gaming-centric private equity firm, disclosed today its $100 million acquisition for a minority interest in Israeli-based Candivore. The investment was sourced from the Haveli VC Gaming Fund I, L.P. Candivore, a Tel Aviv-based independent gaming studio established in 2018, is recognized for its hit game Match Masters, which has achieved over 50 million downloads and produced more than $300 million in revenue.

Established in 2018 in Tel Aviv, Israel, Candivore is a standalone mobile game development studio. Its core team comprises Gal Goldstein as CEO, Ehud Rosenberg heading Product and R&D, CTO Sahar Azran, Alon Shkedi leading Client Development, Tom Amel overseeing Backend Development, Chief Creative Officer Zur Tamam, and COO Ilya Agron.

Candivore's flagship game, Match Masters, distinguishes itself in the match-3 puzzle game category, offering large-scale tournaments and competitive play to users worldwide.

The investment will allow Candivore to enhance its footprint in the U.S. market and introduce more gaming experiences.

Haveli Gaming, initiated in 2022, has a track record of investments in gaming studios like Omeda Studios in London and Behaviour Interactive in Montreal.

Candivore has raised $22 million in venture capital funding to date, from investors including Vgames and Tiger Global Management.