A sub-fund based on the gaming and financial technology sectors was launched by Tim Heath’s newly founded Yolo Investments venture-capital fund.
The newly formed sub-fund will be searching for opportunities for seed and A-stage in the gaming and fintech industries.
Before launching the sub-fund, Yolo had already made investments in OneTouch and Green Jade Games casino content studios, coins.io, Credis Bank and Yeahka fintech disruptions, and the Bombay Club live casino concept.
This was followed by the successful flotation on the Hong Kong Stock Exchange of Yeahka, a leading payment-based technology platform in China that specialises in providing payment and business services to merchants and consumers.
First profitable exit
Moreover, the fund announced its first profitable exit to the Coolbel, Estonia-based gaming operator, acquired by GAN Limited in December, with six returns from its investment.
Heath, who is currently a General Partner at Yolo Investments said: “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.
Diverse portfolio of high-growth companies
“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.”
Heath was founder and CEO of the Coingaming Group prior to commencing operations with Yolo in 2020. He has, however, worked to step away from the management of the operator of crypto-casino and sports betting, instead concentrating his energies on building up the status of Yolo as a licensed venture capital entity.
All the assets and holdings of the previous fund, Vereeni Investments, including investments in more than 50 firms, were assumed by the main fund, divided between four separate funds, with an AUM of over EUR 200 million.
Julian Buhagiar, Steve Tsao and Ragnar Toompere will be General Partners in the Fund alongside Heath, while Jaan Lainurm and Maarja Pärt will be on the board of directors.