Haveli Investments acquires Budge Studios

FEBRUARY 9, 2026

Haveli Investments acquires Budge Studios

TARGET

Budge Studios is a mobile games developer known for children's entertainment apps.

Ownership	PE-backed
Prior owner	General Atlantic
Investors	General Atlantic, BDC Capital (Business Development Bank of Canada)
Capital raised	$3M
Headcount	123 FTEs
Headquarters	Montreal, Canada
Leadership	Michael Elman, co-founder and co-CEO
Sell-side leads	Frederick Robson, VP (General Atlantic)
Sell-side advisor	The Raine Group

ACQUIRER

Haveli Investments

Private equity firm focused on technology and software investments.

Ownership	—
Deal lead	Ophir Lupu, senior MD
Buy-side advisor	—

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Haveli Investments -> Budge Studios  (2026-09-11)
buyout | Media/Entertainment | announced
Target: Budge Studios is a mobile games developer known for children's entertainment apps.
Website: budgestudios.com | Buyer site: haveliinvestments.com
HQ: Montreal, Canada | Ownership: pe-backed | Seller: General Atlantic
Advisors - Sell-side: The Raine Group
Source: Thematic - https://thematichq.com/software/d/haveli-investments-budge-studios.html

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