One of the most overused terms in business today is ‘ecosystem’. Too often, it is deployed as a marketing buzzword rather than understood as what it truly is: a complex, dynamic network that requires constant investment, curation and maintenance.
Building a meaningful ecosystem is not simply about connecting companies through referrals or creating superficial partnerships. It requires high-quality content, valuable introductions, active engagement and a relentless focus on creating tangible value for every participant involved.
At Vyking, this philosophy has shaped how we approach both partnerships and investments. Rather than relying solely on referral models or intermediary structures, we have chosen to put genuine skin in the game alongside our partners. We believe long-term value is created when incentives are fully aligned and when ecosystem participants share both the opportunities and the risks associated with growth.
This approach feels particularly relevant in today’s tough fundraising environment. While capital remains available, many startups and scaleups across the igaming sector are finding it increasingly difficult to raise meaningful growth funding. Investors have become more selective, due diligence processes have intensified and founders are expected to demonstrate clearer paths to profitability and sustainable differentiation.
Lead from the front
Against this backdrop, we see a compelling opportunity to not only deploy capital but also to support companies through strategic relationships and commercial access. Our goal is to lead from the front – writing our own tickets, activating our network and approaching investments with the same entrepreneurial mindset that has guided our activities outside the igaming industry for many years.
This conviction ultimately led to the creation of Vyking Ventures, a dedicated investment arm designed to operate with institutional discipline while remaining deeply connected to our core business.
Our model combines limited partner (LP) positions in selected igaming-focused funds with direct investments into companies that are building innovative products and services for the industry. This dual approach allows us to gain broad market exposure while simultaneously establishing closer relationships with businesses that can deliver meaningful value to our clients.
Importantly, these investments are not passive. By becoming stakeholders, we gain greater visibility into product roadmaps, market developments and emerging trends. This allows us to help shape solutions that address real operational challenges faced by operators and suppliers. Rather than offering standardised products, we can facilitate more tailored, ecosystem-driven solutions that are informed by direct industry participation and long-term alignment.
While we are still refining and sharpening our investment profile, the early results have been highly encouraging. The quality of inbound opportunities has exceeded expectations, co-investment discussions continue to expand and the overall deal flow demonstrates the remarkable creativity and innovation that defines the igaming sector. Even in a more cautious funding environment, talented founders continue to identify new opportunities and develop products capable of creating significant value.
Building connections
At the same time, we see substantial potential in building stronger bridges between the igaming industry and more traditional institutional investors. Many of the technologies, customer acquisition strategies, data capabilities and compliance frameworks developed within our sector have relevance far beyond gaming itself. Exploring these intersections can unlock new sources of capital, strategic partnerships and knowledge transfer that benefit all stakeholders involved.
We are still at the beginning of this journey, but our ambitions are clear. We want to contribute to a healthier and more connected innovation ecosystem within igaming, help exceptional companies access the resources they need to grow and create stronger connections between founders, investors, operators and providers.
Our experience has consistently shown that collaboration becomes significantly more effective when there is genuine alignment, transparency and shared ownership.
For us, investing is not simply about deploying capital. It is about building long-term relationships, strengthening the real ecosystem and creating opportunities that generate lasting value for everyone involved.
Franz Gerhart is the CEO and co-founder of Vyking. As CEO and through Vyking Ventures, Gerhart is passionate about supporting the next generation of entrepreneurs building innovative technologies across igaming, fintech, blockchain, AI and adjacent digital industries, helping founders transform ambitious ideas into scalable businesses.
The post Vyking Ventures: Investing is not just about deploying capital first appeared on EGR Intel.
CEO Franz Gerhart gives his view on the current investment landscape for igaming startups and scaleups and why “superficial partnerships” are not good enough
The post Vyking Ventures: Investing is not just about deploying capital first appeared on EGR Intel.