Tim Heath’s Yolo Investments venture-capital fund has debuted a sub-fund focused on the gaming and financial technology sectors.
A Series of Profitable Undertakings for Yolo Investments
On February 15, Yolo Investments announced the launch of a gaming and fin-tech sub-fund. The gaming venture capital firm is now searching for investment opportunities across the gaming and financial industries.
Yolo Investments was launched by Tim Heath in 2020 and now assumes all the assets and holdings of the previous fund, Vereeni Investments. This includes investments in four funds consisting of more than 50 companies with assets under management of more than €200 million.
The sub-fund will focus on seed- and A-stage investment opportunities across gaming and fintech. So far, Yolo has invested in casino content studios OneTouch and Green Jade Games, fintech disruptors coins.io, Credis Bank and Yeahka, and new live casino concept the Bombay Club.
“These new sub-funds in Yolo Investments will continue the fantastic work of Vereeni Investments over the last couple of years. 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 at Yolo Investments
In December 2020, Yolo announced its first exit gaining a six-fold return on its investment in Estonia-based Coolbet. Game Account Network (GAN) reported the completion of its €149.1 million cash and stock acquisition of Coolbet on January 4. The deal marked the first start-to-exit investment in Yolo’s portfolio. Also, the company said the funds would be used to reinvest in Yolo’s growing investment portfolio.
Furthermore, Yolo carried out a successful public floatation on the Hong Kong Stock Exchange of Yeahka, one of its fintech assets. Yeahka made its debut in June 2020 raising HK$1.53 billion ($197.3 million).
Tim Heath Leaves Coingaming to Focus on Yolo Investments
Yolo’s founder was CEO of the Coingaming Group until September last year. He stepped away from managing the existing crypto-casino and sports betting operator to focus fully on the fast-growing venture capital entity.
Julian Buhagiar, Steve Tsao and Ragnar Toompere will also be General Partners in the Fund, whilst Jaan Lainurm and Maarja Pärt will be members of the board.
Heath highlighted Yolo’s ability to provide significant upside to its investments via its network. He added the company is actively searching for disruptive businesses to which it can add value and open for investment from Limited Partners.