Tim Heath’s Yolo Investments venture-capital fund has launched a sub-fund focused on the gaming and financial technology sectors.
The newly established sub-fund will search for seed and A-stage opportunities across the gaming and fintech industries.
Prior to launching the sub-fund, Yolo has already made investments in casino content studios OneTouch and Green Jade Games, fintech disruptions coins.io, Credis Bank and Yeahka, and live casino concept the Bombay Club.
This was followed by the successful floating of Yeahka – a leading payment-based technology platform in China specialising in the provision of payment and business services to merchants and consumers – publicly on the Hong Kong Stock Exchange.
Furthermore, the fund has announced its first successful exit, gaining a six-fold return on its investment in Coolbet, the Estonia-based gaming operator which was acquired by GAN Limited in December.
“These new sub-funds in Yolo Investments will continue the fantastic work of Vereeni Investments over the last couple of years,” said Heath, who is currently a General Partner at Yolo Investments.
“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.
“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.”
Prior to commencing operations with Yolo in 2020, Heath was founder and CEO of the Coingaming Group. However, he has been working to move away from management of the crypto-casino and sports betting operator, and instead focus his efforts on building up Yolo’s status as a licensed venture capital entity.
The main fund has assumed all of the assets and holdings of the previous fund, Vereeni Investments, including investments in more than 50 companies, split across four different funds, with an AUM of over €200 million.
Alongside Heath, Julian Buhagiar, Steve Tsao and Ragnar Toompere will be General Partners in the Fund, whilst Jaan Lainurm and Maarja Pärt will sit on the board.