Yolo Investments makes 5.8x ROI after Coolbet sale
Tim Heath’s VC firm records first start-to-exit investment sale following GAN’s acquisition of Estonian operator
Yolo Investments has secured a 5.8x return on its initial investment in Estonian operator Coolbet following its acquisition by GAN.
The return marks the first start-to-exit investment for the venture capital firm founded by former Coingaming CEO Tim Heath in 2017.
As a result of GAN’s €149m acquisition of Coolbet, Yolo Investments now plans to use the funds to reinvest across its growing portfolio, which currently spans 46 ventures. Heath said he expected to see similar results from his existing portfolio following the sale of Coolbet.
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,” he added.
In September, Heath stepped down from his role as Coingaming CEO to solely focus on Yolo Investments after seven years in the hot seat.