Gaming venture capital firm Yolo Investment, formerly known as Vereeni Investments, has announced a solid return on investment following the sale of Coolbet, a leading Estonia-based online gaming and sports betting brand.
Yolo Investment has generated a substantial 5.8x return with its €149 million deal which saw Coolbet shift to GAN Limited.
Commenting on the deal, Yolo Investments founder and general partner Tim 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.”
With the newly-acquired fund, Yolo will seek to bolster its current investment portfolio that consists of 46 separate investments. Parting with Coolbet, Heath said that Yolo wished all the best to Coolbet under the direction of the company's new owner.
Yolo has been instrumental in the creation of multiple successful business ventures, with Coolbet proving one of the latest successful deals.
Coolbet was an early-adopter of cryptocurrencies as viable payment options, and it remains one of the best igaming and interactive betting brands.
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