Matt Davey’s VC firm to make $1m investment in Scout Gaming

Former NYX chief makes second major investment as president and CEO of Las Vegas-based Tekkorp Capital

28/06/2019

Matt Davey’s new investment vehicle Tekkorp Capital has announced a $1m strategic investment in European fantasy sports provider Scout Gaming.

Tekkorp has committed to acquiring $1m worth of shares in the business, listed on the First North Stockholm exchange.

It is the second investment announced by Tekkop since its formation, following an initial investment in Australian business BetMakers in April.

Davey started the Las Vegas-based investment firm after leaving Sci Games at the end of 2018, where he was CEO of SG Digital.

Explaining the new investment, Davey said: “We have observed Scout Gaming’s development and are impressed with what they have achieved in a short time.

They are the leading supplier of fantasy sports-related gaming products, and now facing an international expansion, and we intend to support the company going forward.”

Scout Gaming stock performance YTD

Scout was this week named ‘Fantasy Sports Supplier of the year’ at the EGR B2B Awards 2019 for the second year in a row and recently secured a Malta betting licence allowing it to expand into fixed odds sports betting.

Scout said the funds raised from the placement would be used to strengthen its product offering and continue its geographical expansion.

“Matt Davey and Tekkorp are Scout Gaming’s optimal strategic partner in the position we are in,” added Scout Gaming CEO Andreas Ternström.

“He is one of the most important names in the sector in the US and help develop Scout on several levels.”