Yolo Investments has announced the launch of a third investment fund, projected to raise $250m (£185.5m), which the VC plans to deploy across “high-conviction ventures, with a global mandate and a MENA concentration”.
Fund III has been authorised by the Financial Services Regulatory Authority of the Abu Dhabi Global Market and will concentrate on Series A to C rounds.
The focus on MENA and being based out of the UAE comes as part of the wider Yolo push to focus in in the Emirates.
In September, Yolo founder Tim Heath announced the crypto-first operator was moving away from its Sportsbet.io and Bitcasino.io sites and transitioning to a singular Yolo.com brand aimed at regulated markets.
As part of that push, Yolo secured two B2B licences in the UAE as the Middle Eastern nation relaxes its gambling laws and opens its doors to commercial operators.
Fund III will seek investments across three sectors: fintech, crypto and gaming.
On the investment thesis, Heath said: “What ties them together is the movement of money itself. Our fintechs power payment rails for our gaming portfolio; our gaming operators become anchor customers for our fintech and crypto companies.
“That kernel, built across a decade of active portfolio management, is the edge we offer founders.”
On the Abu Dhabi base, the Australian entrepreneur added: “Abu Dhabi was a deliberate choice: English common law, a principles-based regulator in the FSRA, and a direct seat within one of the deepest pools of institutional capital in the world.
“Being regulated in the same jurisdiction as our LPs is now a prerequisite for institutional allocators, and Abu Dhabi clears all three bars.”
Yolo Investments said it was finalising the limited partnership agreements, private placement memorandum and subscription documents before full launch.
Yolo Investments has backed several igaming businesses, including aggregator Hub88, Australian operator Dabble and Brazilian supplier Caleta Gaming.
The VC launched in 2020 and assumed all previous assets and holdings of Heath’s previous fund, Vereeni Investments. Fund I saw the VC invest other recognisable industry brands such as Coolbet and Gamdom (both exited), as well as Kero Gaming and Odds88.
Fund II was launched in December 2023 and raised €100m (£86.4m), €50m in external capital and €50m from Yolo Group.
CRM supplier Enteractive, affiliate business Forever Network and Dabble were all recipients of backing in the second funding deployment.
In total, the VC has made more than 150 investments, with over $750m in assets under management in its portfolio.
Heath and Julian Buhagiar serve as the fund’s general partners, while former Yolo Group CEO Maarja Pärt sits on the group’s board.
Last year, Yolo Investments promoted Evert Einroos to the role of managing director.
The post Yolo Investments launches third fund with $250m capital raise target first appeared on EGR Intel.
Fund III to focus on Series A-C rounds, as operator’s investment division continues to capitalise on fintech, crypto and gaming opportunities
The post Yolo Investments launches third fund with $250m capital raise target first appeared on EGR Intel.