Limassol private equity firm invests in Cyprus-based gaming studio

Private equity firm Zubr Capital has announced a Series A investment in Cyprus-based Soloband Games, marking a significant step in the expansion of the country’s gaming ecosystem.

According to a statement from the Cyprus-based firm, the deal represents a new phase of growth for the studio as it seeks to scale its flagship product and strengthen its position in the global mobile gaming market.

Soloband Games develops casual mobile titles, with its leading game, World Tour Merge, positioned within the fast-growing Merge 2 genre, where players combine items to progress through levels and unlock content.

The studio is supported by a team of 25 professionals, including founders with more than a decade of experience in gaming and expertise spanning game design, live operations and product scaling.

The team includes talent from leading studios such as Playrix and Melsoft, while early backing came from industry figures Andrei Yarantsau and Alexander Shilyaev, former Melsoft executives, who contributed both capital and operational expertise.

The global mobile gaming in-app market is expected to approach 100 billion dollars by 2028, with the Merge 2 segment showing continued growth in downloads and revenue.

Within this environment, Soloband Games has already demonstrated strong performance, surpassing one million downloads and achieving a 4.8 player rating, alongside positive revenue momentum.

“Soloband Games represents exactly the kind of company we look to support, with deep expertise, proven product fit, strong retention and a clear path to scaling,” said investment director at Zubr Capital Nikita Krivelevich.

“We are convinced the company is well positioned to capture a meaningful share of the Merge 2 segment globally,” he added.

“Since 2024 we have focused on building products that feel modern and meet the highest standards while offering intuitive and familiar design that keeps players engaged,” said chief executive officer of Soloband Games Aleksandr Kislitsyn.

“This is a pivotal moment for our product and team, as the investment will help us scale World Tour Merge, expand content and improve monetisation and retention strategies,” he added.

What is more, the company plans to strengthen its user acquisition strategy, expand into new international markets and further optimise live operations to support long-term sustainable growth.

For Zubr Capital, the transaction reflects its strategy of investing in scalable technology companies with global potential, expanding its portfolio in high-growth sectors.

The Limassol-based firm manages $250 million across 30 technology companies, including two unicorns, with backing from investors such as the European Bank for Reconstruction and Development, the Dutch Entrepreneurial Development Bank and Wargaming.

The investment also reinforces Cyprus’ growing role as a hub for technology and gaming innovation, supported by international capital and expertise.