Mobile gaming CEO, venture capital exec buy new Miami Beach mansion for $29M

Mobile gaming CEO, venture capital exec buy new Miami Beach mansion for $29M

Kevin Segalla , the founder and CEO of New York-based mobile gaming company Tilting Point, and his wife Michele Segalla , a managing partner at Stamford, Connecticut-based venture capital firm CFC Capital, paid $29.14 million for a new mansion in Miami Beach.

Coral Gables-based 320 South Hibiscus Drive LLC, managed by Russian businessman Ilya Karpov , sold the spec mansion at the same address on Hibiscus Island to the Segallas. The home was approved for 7,990 square feet, so the price for the off-market deal equates to $3,647 a square foot.

The home is situated on a waterfront lot of 15,750 square feet on the south side of the island. Miami-based architect Choeff Levy Fischman designed the home.

The neighboring lot was built by the same developer and sold for $22 million in August 2021. It’s another sign of how rapidly prices have increased in Miami Beach as more wealthy people relocate to the city.

Kevin Segalla founded Tilting Point, which publishes free-to-play mobile games, including games branded by TV shows “Spongebob Squarepants,” “Star Trek” and “Narcos.” Prior to that, he led CFC Capital, which invests in entertainment, digital media and real estate. He previously worked in film and TV production.

Michele Segalla has been a managing partner of CFC Capital since 2013 and previously worked at both Bear Stearns and JPMorgan.

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