Fintech and gaming venture capital firm Yolo Investments, formerly known as Vereeni Investments, exited its investment in Estonia-based online gaming and sports betting operator Coolbet for an impressive 5.8x return.
The acquisition of Coolbet by GAN Limited marks the first start-to-exit investment in Yolo’s portfolio.
The funds will be used to reinvest in Yolo’s growing portfolio, which spans 46 investments across four funds focused on fintech, gaming and live casino, as well as other related products and services.
General Partner and Founder of Yolo Investments Tim Heath said: “This is a very significant milestone for all of us at Yolo. It makes us especially proud to have been the early investors for Coolbet, back when we started Vereeni Investments in 2017.
“We wish all the best for Coolbet as it takes things to new heights with GAN, and look forward to achieving similar results with the rest of our portfolio, of which many are increasing significantly in valuation.”