The amusement arcade industry in Benelux is vibrant, housing numerous companies that cater to diverse gaming preferences. These establishments often blend traditional arcade games, immersive virtual reality experiences, and engaging skill-based games that entice all ages. From well-established arcade chains to emerging startups, firms in this industry focus on interactive entertainment and social engagement. The sector is evolving with technological advancements, incorporating cutting-edge gaming solutions and mobile apps that drive customer interaction. As consumer demand for innovative leisure activities grows, the industry is likely to see increased investment and exciting new offerings that enhance the gaming experience.

This article highlights 11 notable investors in the Benelux amusement arcade space, showcasing a mixture of corporate and venture capital firms. Located in key areas like Amsterdam and Luxembourg, these investors vary in size from small teams to large entities, with a combined investment activity featuring numerous deals in 2024. Notable participants include CVC Capital Partners in Luxembourg and Waterland Private Equity in the Netherlands, reinforcing the region's attractive climate for chains looking to attract funding and drive growth in the dynamic arcade market.

Top 11 Amusement Arcade Investors in Benelux

1. Cvc

• Website: cvc.com
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 2005
• Headcount: 1001-5000
• Number of deals in 2024: 16
• LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. The firm specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has made notable investments in the entertainment sector, including the acquisition of Merlin Entertainments, a major player in the amusement and theme park industry, which raised an undisclosed amount in 2010. Additionally, CVC's investment in Dream Games, which raised $255 million in 2025, highlights their ongoing interest in the entertainment space. Their acquisition of CJ CGV and the planned acquisition of Sisal Group further demonstrate their strategic focus on companies that operate within or adjacent to the amusement and entertainment sectors.

2. Azerion

• Website: azerion.com
• Type: Corporate
• Headquarters: Schiphol-Rijk, North Holland, Netherlands
• Founded year: 2014
• Headcount: 1001-5000
• Number of deals in 2024: 2
• LinkedIn: azerion

Azerion Group N.V. is a corporate investor based in Schiphol-Rijk, North Holland, Netherlands, founded in 2014. The company operates as a digital entertainment and media platform, providing advertising solutions while managing a diverse portfolio of gaming content. Notably, Azerion has made significant acquisitions in the gaming industry, including the full acquisition of Sulake, the developer of the popular online game Habbo Hotel, and Whow Games, a free-to-play social casino developer. These transactions reflect Azerion's strategy to expand its gaming portfolio and enhance monetization opportunities, positioning them as a key player in the digital gaming landscape. Their focus on interactive and social gaming experiences aligns with the characteristics of amusement arcades, making them a relevant investor in this space.

3. Fabric Ventures

• Website: fabric.vc
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2012
• Headcount: 11-50
• Number of deals in 2024: 16
• LinkedIn: fabricventures

Fabric Ventures is a venture capital firm based in Luxembourg, founded in 2012. The firm specializes in investing in the Open Economy, providing support to founders and startups across various sectors, including finance, gaming, and infrastructure. In 2024, they have made 16 investments, showcasing their active role in the venture capital landscape. Notably, Fabric Ventures has participated in several significant transactions in the gaming sector, such as: 1. **Treasure Play** - Raised $8.2 million in a Seed Round on March 18, 2022, indicating their interest in innovative gaming solutions. 2. **Sorare** - Invested $10 million in a Seed Round on July 16, 2020, which is a fantasy sports platform that combines gaming with blockchain technology. 3. **Yield Guild Games** - Participated in a $4 million Series A round on June 16, 2021, focusing on play-to-earn gaming models. These investments highlight Fabric Ventures' commitment to the gaming industry, which is closely related to amusement arcades, making them a relevant player in this space.

4. Waterland Private Equity

• Website: waterlandpe.com
• Type: Private Equity
• Headquarters: Bussum, North Holland, Netherlands
• Founded year: 1999
• Headcount: 201-500
• Number of deals in 2024: 7
• LinkedIn: waterland-private-equity

Waterland Private Equity Investments B.V. is a private equity firm founded in 1999, based in Bussum, North Holland, Netherlands. The firm specializes in growth equity investments and partners with ambitious entrepreneurs and management teams to support their growth strategies through strategic planning and operational assistance. Waterland focuses on various sectors, including healthcare and sustainability, and operates across Europe. Notably, Waterland has made significant investments in the amusement arcade industry, including the acquisition of Krijco Amusement BV, a Dutch land-based gaming operator, which strengthens their position in the Dutch gaming market. Additionally, they acquired Napoleon Games Group, further expanding their footprint in the gaming sector. These transactions highlight Waterland's commitment to investing in and growing companies within the amusement arcade and gaming industries.

5. Maven 11

• Website: maven11.com
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 27
• LinkedIn: maven11

Maven 11 is a venture capital firm based in Amsterdam, specializing in blockchain and distributed ledger technology. Founded in 2015, they provide investment and active support to founders in the crypto space, helping them navigate market complexities. In 2022, they participated in a Series A funding round for Lava Labs, which raised over $10 million for its flagship game AFAR, highlighting their commitment to the gaming sector. They also invested in Stardust, which raised $5 million in a seed round in 2021, further showcasing their interest in gaming-related ventures. Their recent investment in Sophon, which raised $10 million in March 2024, indicates ongoing activity in the tech and gaming sectors. These transactions position Maven 11 as a key player in the investment landscape, particularly in areas where gaming and blockchain intersect.

6. Flow Ventures

• Website: flowventures.xyz
• Type: Venture Capital
• Headquarters: Randstad, Netherlands
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: flowventures-xyz

Flow Ventures is a venture capital firm based in Randstad, Netherlands, specializing in early-stage investments primarily in the blockchain and decentralized finance sectors. The firm provides capital and strategic advisory services to startups, focusing on token-based networks and innovations in areas such as gaming and NFTs. Notably, Flow Ventures has invested in several companies relevant to the amusement arcade industry, including Arcade2earn, which raised $3.2 million in a seed round, indicating their commitment to the gaming sector. Other investments include Fancy Studios and Azuro, both of which are involved in gaming-related projects. Flow Ventures aims to accelerate the digital revolution by fostering long-term partnerships with its portfolio companies, particularly in the gaming space.

7. Laton Ventures

• Website: laton.vc
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, Netherlands
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: laton-ventures

Laton Ventures is a venture capital firm based in Amsterdam, North Holland, Netherlands, that specializes in the gaming industry. Founded with a focus on early-stage gaming companies, Laton Ventures provides not only funding but also operational support in critical areas such as game design and marketing. In 2024, they participated in notable transactions including a $2.25 million investment in Pine Games, aimed at mobile game development, and a $3 million investment in Grand Games during a Pre-Seed round. These investments highlight their commitment to supporting innovative gaming startups, which may also extend to the amusement arcade sector as the gaming landscape evolves.

8. DeFi Capital

• Website: deficapital.com
• Type: Venture Capital
• Headquarters: Utrecht, Utrecht, Netherlands
• Founded year: 2019
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: deficapitalbv

DeFi Capital is a venture capital investment fund based in Utrecht, Netherlands, founded in 2019. The firm specializes in decentralized finance (DeFi) and cryptocurrency, focusing on managing investments in blockchain technology and providing financial services related to DeFi. DeFi Capital's clientele includes businesses, consumers, and organizations looking to leverage opportunities in decentralized finance. Notably, DeFi Capital has participated in significant transactions within the gaming sector, including a seed round investment in Apeiron, a blockchain game that raised over $17 million, and other investments in gaming-related projects like Elpis Battle and Polemos. These transactions highlight DeFi Capital's engagement with the gaming industry, particularly in the context of blockchain and decentralized finance, making them a relevant player in the amusement arcade investment landscape.

9. Capital Mills

• Website: capitalmills.nl
• Type: Venture Capital
• Headquarters: Gorinchem, South Holland, Netherlands
• Founded year: 2015
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: capital-mills-bv

Capital Mills is a venture capital firm based in Gorinchem, South Holland, Netherlands, founded in 2015. The firm specializes in providing funding solutions to technology companies, offering revenue-based financing and equity investments to help startups and scale-ups secure the capital needed for growth. Capital Mills supports its clients with strategic guidance and access to resources, focusing on fostering innovation within the tech sector. Notably, they have been involved in significant transactions such as leading a $4 million Series A funding round for Tiqets, an attractions platform that connects users with various entertainment options, and participating in multiple funding rounds for Convious, an AI-driven ecommerce platform for the experience economy. These investments highlight Capital Mills' engagement with companies that operate in sectors closely related to amusement and entertainment, reinforcing their relevance to the amusement arcade industry.

10. 212

• Website: 212.vc
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2011
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: 212vc

212 is a venture capital firm based in Luxembourg, founded in 2011, that specializes in supporting B2B technology startups. The firm provides funding through various investment funds, including a growth fund and accelerator programs, aimed at helping entrepreneurs scale their businesses. In 2012, 212 made a notable investment in ArcadeMonk, a company involved in the amusement arcade industry, during its seed round. This investment highlights 212's engagement with the entertainment sector, despite their broader focus on technology. Additionally, they participated in the funding of Hemen kiralik, although this transaction is less relevant to the amusement arcade context. Overall, 212 leverages its global network to assist startups in navigating growth challenges, including those in the amusement arcade space.

11. s16vc - Founders for Founders Fund

• Website: s16vc.com
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 2020
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn: s16vc

s16vc - Founders for Founders Fund is a venture capital firm based in Amsterdam, Netherlands, founded in 2020. The firm specializes in providing advisory services to companies, emphasizing the importance of strategic guidance in management. In 2024, they made a notable investment in Playgama, raising $3,000,000 in a seed round on December 3, 2024. This investment aligns with their interest in supporting innovative companies, potentially within the amusement arcade sector, showcasing their willingness to engage with businesses that operate in this space.

Amusement Arcade Insights: Key Investors in Benelux

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