Play Ventures explains backing of UK operator Midnite
Games fund Play Ventures joined Midnite's $35 million Series C in January 2026, citing the operator's challenger-brand approach.
Investment in Midnite
Play Ventures, an early-stage venture capital firm founded in 2018 by games entrepreneurs Harri Manninen and Henric Suuronen, joined UK operator Midnite’s $35 million Series C round in January 2026 as an existing investor, according to general partner Anton Backman.
The firm has offices in Singapore and Finland and invests globally in game studios, games-inspired consumer products, and related technology and services.
Midnite co-founders Nick Wright and Daniel Qu were two US guys building for the UK, taking an outsider view on how to build a challenger brand, Backman said.
From mobile games to real money
Play Ventures’ interest in online betting and casino games started around 2020, when founders from their mobile free-to-play network began looking at real money, Backman said.
The games fund’s portfolio now includes the UK sportsbook and casino operator.
Aviator’s appeal
Backman also discussed the popularity of instant games such as Aviator. While Aviator and other instant games usually have a higher RTP than most online slots, he does not think that is what drives their popularity.
“From my perspective, it’s the entertainment value,” Backman said. “Everyone is in the same round at the same time; you see other players cash out in real time, there’s a chat, and the tension builds together.”
Sources
- European Gaming · Industry media · primary source ·
Spotted a mistake? Report an error — see our corrections policy.