Yolo Investments has closed fundraising for its Fund II after reaching its initial target of €100m (£85.5m), having initially launched the fund in December 2023.
Fund II is comprised of €50m in external capital, in addition to a €50m commitment from Yolo Group – the wider Yolo business that encompasses its B2C and B2B operations, as well as the VC.
The fund is structured as a Guernsey-registered limited partnership and is licensed by the Guernsey Financial Services Commission (GFSC).
Yolo Investments confirmed Fund II is made up of 23 investors, which include “founders and industry thought leaders”.
Yolo said Fund II would “further strengthen the Yolo Investments ecosystem and enhancing the strategic value it can offer portfolio companies”.
So far, Fund II has backed 12 companies across the igaming, blockchain and fintech sectors.
Notable investments include Australian operator Dabble, which launched in the UK market last month. Dabble also received backing in Yolo Investment’s Fund I.
Other investments include daily fantasy sports (DFS) operator ParlayPlay, as well as crypto exchange platforms Boomfi, Kraken and Meld.
The fund is expected to make a further 10 investments within the next 12 months.
Tim Heath, Yolo Group founder and GP at Yolo Investments, said: “We’re absolutely thrilled to be closing our raise for Fund II, having hit our target.
“This took place during challenging market conditions, with global VC fundraising facing significantly more headwinds compared with previous vintages.
“But investors have looked at our previous funds’ track record and the strength of our ecosystem, and have strongly backed us.
“We are humbled by that response as a real vote of confidence, not just in what we’ve built so far, but in where we’re heading next.
“We will continue to back more brilliant founders and help them scale faster, smarter and with the full power of the Yolo ecosystem behind them.”
Yolo Investments formed part of the investment group which helped Kero Gaming raise $3m in a Series A funding round last month.
The VC fund also added crypto price-prediction supplier Bitblox to its portfolio back in January.
The post Yolo Investments hits €100m fundraising target for Fund II first appeared on EGR Intel.
“Flagship” fund is made up of €50m in external capital, with the remaining €50m derived from a commitment from Yolo Group
The post Yolo Investments hits €100m fundraising target for Fund II first appeared on EGR Intel.