Venture capital firm Almaz Capital Partners has bought a 23 per cent stake in Russian casual games developer Alawar Entertainment.

The equity stake was acquired by Almaz from Finam Investment Holding, which bought into the company in August 2007.

Alawar is a leading distributor of casual games in Russia, having developed over 60 games for distribution through its websites. It has released onto platforms including the iPhone, PC, PS3 and Android, and has a distribution network spanning Ukraine, Poland, Germany and Finland.

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