Yolo’s new sub-fund is focused on seed-stage and A-stage investment opportunities in the gaming and fintech spaces.
“We have already assembled a diverse portfolio of high-growth companies across gaming and fintech and are now looking to build specialised sub-funds to specifically focus on these verticals,” Tim Heath, general partner of Yolo Investments, said.
“As well as capital, we are now in a position to provide significant upside to our investments via our network. With more than €200 million AUM, we are actively searching for disruptive businesses to which we can add value and open for investment from Limited Partners.”
Yolo Investments manages assets across more than 50 companies, with a combined value of over €200m (£174.5m/$242.7m). The investment fund succeeded Vereeni Investments, assuming all the assets and holdings of the previous fund.
“These new sub-funds in Yolo Investments will continue the fantastic work of Vereeni Investments over the last couple of years,” Heath added.
The fund’s previous investments include casino content studios OneTouch and Green Jade Games, fintech companies coins.io, Credis Bank and Yeahka, and new live casino concept the Bombay Club.
Heath, who served as chief executive of Coingaming Group until last year, had spent the last two years gradually stepping away from the operational management of the group to fully dedicate his time and effort to setting up Yolo Investments as a licensed venture capital entity.
Alongside Heath, co-founder of RB Capital Julian Buhagiar, Coingaming Group chief commercial officer Steve Tsao and director of mobile casino developer OneTouch Ragnar Toompere will be general partners in the fund.
Coingaming Group’s chief operating officer, Maarja Pärt and the group’s chief investment officer, Jaan Lainurm, will also sit on the fund’s management board.
Yolo recently announced its first successful exit, with a 6x return on its investment in Estonia-based gaming operator Coolbet, which was acquired by GAN for $175.9m in cash and stock in December.