Axon Partners Group, Bonsai Venture Capital back Akamon Entertainment

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OLYMPUS DIGITAL CAMERAVenture capital firms Axon Partners Group and Bonsai Venture Capital have led a €2.8m investment round for Barcelona-based social gaming business Akamon Entertainment.

The company said this is one of the largest first rounds in the online sector in Spain. It plans to use the funding to finance international expansion, research and development and the launch of new games for mobile devices.

Axon and Bonsai are joining existing investors in Akamon Group ITNet and Exelweiss.

Akamon, which operates in southern Europe and Latin America, posted revenues of $8.5m and had a positive EBITDA last year. In 2013, the company expects its revenues to nearly double to $16m thanks to the launch of new games and its expansion into markets such as Colombia and Mexico.

Akamon CEO Vicenç Martí said, “We are delighted that two fund companies of such caliber as Axon Partners Group and Bonsai have joined the project, bringing a profound knowledge of the Latin American market and an unparalleled track record of success with Internet companies respectively.”

One of Akamon’s new investors Axon, which is based in Madrid, currently manages €125m across its early to growth capital funds.

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