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LDC supports Marmalade, one of the leading manufacturers of board games for smartphones, consoles and computers


Marmalade brings classic board games like Monopoly and Cluedo to life on mobile, PC and Nintendo Switch. LDC’s investment will support the existing management team, led by co-CEOs Michael Willis and Cristina Mereuta, and invest in developing new games and hiring talent.

LDC, a mid-sized private equity firm, has made a multi-million pound investment in Marmalade Game Studio, a leading developer of mobile, console and PC board games. Investments in leading game developers and publishers support management’s ambitious organic growth strategy and future game launches.


  • As part of the deal, Dale and Jacob will join Andrew Graham, former chairman of game developer Mediatonic, known for games such as Fall Guys – Ultimate Knockout and Foul Play, on its board of directors.The deal marks the successful exit of his Bloc Ventures investment in Marmalade in 2015.

  • The two have already led the company through a period of extraordinary growth over the last few years, with revenue growing by more than 100 percent over the last three years. Today, Marmalade continues to invest in a growing team with offices in London, UK and Lisbon, while developing quality family games for a variety of platforms and licensors, with a target of numerous new releases from 2022 onwards and continues to publish.

Jacob Leone, investment manager at his LDC in Manchester, added: . “The gaming industry has experienced tremendous growth over the past few years and Marmalade has embraced the opportunity to bring the best games to our players. Their clear drive and ambition means we want to support the team and look forward to working with them on the next phase of their growth journey.

Marmalade Game Studio co-CEO Cristina Mereuta said: “This gives us the opportunity to not only expand our gaming portfolio and bring some of the digital world’s most popular titles to life, but also to continue recruiting some of the industry’s most exciting talent.”

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