Shum Singh

Managing Director & Founder

Shum is an investor and non-executive director of Heroic Labs Ltd & Tower Pop Oy. He is also an early investor in Dream Payments Inc. and Electric Noir Limited. He was also an early-stage investor in Hutch Games Limited (exited to MTG for $375 million), Innova Intellectual Properties SARL (exited to EG7 for €110 million), and Sviper GmbH (exited to the Sandbox).

Shum is a frequent speaker at various games industry events including Pocket Gamer Connects (London, Toronto, Helsinki & Vancouver), Mobile Games Forum, Casual Connect Europe, Nordic Game, WN Conference (Istanbul & Belgrade), Pareto Gaming Investor Seminar and G-Star in Busan, Korea.


Andrey Boulanov

Managing Director

Andrey joined Agnitio Capital as a Managing Director in April 2021. He brings over fourteen years of experience advising international clients on primarily cross-border M&A transactions.

Most recently, Andrey worked as the Head of M&A at Innova Group, Russia’s leading PC publisher, and played an instrumental role in executing the sale of the business to EG7.

Andrey transitioned to the gaming sector after a distinguished investment banking career in Russia and the UK. Over the past 10 years he worked as the Head of M&A Execution at Xenon Capital, one of the leading independent corporate finance advisory firms in Russia. He has advised clients on a variety of complex and landmark transactions in the energy, technology and media sectors. Andrey started his investment banking career at J.P. Morgan in the Industrial Investment Banking Group in London and Moscow.

Joe Armstrong

Managing Director

Joe joined Agnitio Capital as a Managing Director in March 2022. Joe has 20 years of experience in international M&A transactions from an adviser, investor and company management perspective.

A dual qualified lawyer (in England & Wales and the State of New York, USA), after graduating from law school Joe worked at two major international law firms advising clients on numerous M&A transactions and other corporate matters for 7 years. In 2007, Joe decided to switch into a non-legal role in private equity at Lehman Brothers and, later, Patron Capital where he was an Investment Director. In 2012, Joe transitioned into start-up company management. Most recently, Joe was Chief Operating Officer at Readly (Europe’s leading digital magazine subscription service) where he played a leading role in completing the company’s listing on Nasdaq Stockholm in September 2020, as well as being responsible for the company’s M&A activities. Over the years, Joe has lived and worked in 7 countries and speaks 5 languages.


David Bluhm

Non-Executive Director

David has founded or held senior positions in dozens of start-up companies resulting in 2 IPOs, 8 acquisitions and over $32 billion of high-water market value. In various CEO and business building roles, David has driven over 40 transactions totalling $2 billion.

Selected transactions where David was CEO / founder include Z2Live's sale to, GoTV Network's sale to Phunware, and Medio System's sale to Nokia/Here.

Our Advisers

Alexis Bonte, COO, Stillfront Group

Kyu Lee, CEO, Com2US

Ronen Gross, Head of M&A, Aristocrat

Ken Go, CEO, Deca Games

Jason della Rocca, Investor, Advisor, Consultant

Chris Bergstresser, Games Industry Executive