Industry veterans team up on new $50m gambling start-up investment fund
Bettor Capital fund attracts strategic support from former FanDuel chairman Carl Vogel, ex-PNG VP Carl Sottosanti, and iGaming Capital’s Melissa Blau
David VanEgmond’s investment firm Bettor Capital has closed proceedings on a new $50m investment fund which aims to support real-money online gambling start-up businesses.
Bettor Capital’s Fund I will focus on early-stage investment opportunities in the US and will be one of the first of its kind dedicated to the technologies supporting the expansion and digital transition of the real-money gaming sector.
Former FanDuel and Barstool Sports exec VanEgmond welcomed the closing of the fund, citing the potential support it could give to early-stage businesses. It is understood the fund has a overall target of $120m.
“Our industry network and domain knowledge combined with software investing experience allows us to support entrepreneurs in a compelling and differentiated manner as they grow in this sector,” the Bettor Capital founder explained.
“We look forward to building on and continuing our practice of partnering with leading technology businesses that offer unique, sustainable, mission-critical software solutions to this high growth market,” he added.
To support the investment activities of the fund, Bettor Capital has established a group of fund advisors who will provide strategic support and operational expertise for the fund and its various portfolio of businesses.
Fund advisors include iGaming Capital consultant Melissa Blau, DC United co-owner Steve Kaplan, former senior VP of global brand and consumer marketing for the NFL Julie Haddon and ex-PNG executive VP and general counsel Carl Sottosanti.
Bettor Capital investment partner Jake Kleiner hailed the addition of the industry veterans to the investment potential of the fund going forward.
“We are grateful for their support and excited for the expertise they have already brought and will continue to bring to augment the capabilities of our investment platform,” said Kleiner.
“The knowledge, focus, and subject matter expertise that these individuals bring to the table is unparalleled in their respective fields and we could not be more excited to have each of them on board as advisors for Bettor Capital,” he added.
Earlier this month, Bettor Capital invested in Data Skrive, a sports betting and igaming content automation platform which boasts clients including Catena Media, ESPN, Sports Illustrated, and USA Today.