Investment platform Bettor Capital has confirmed the initial closing of its Fund I, which will be focused on early stage investment opportunities in software and technology facilitating real money online gaming operators, focused on the North American market.
Noted as the “first-of-its-kind”, the fund is dedicated to enabling technologies supporting the extension and digital transition of the real money gaming sector.
Commenting on the Fund I closing, founder and CEO, David VanEgmond, stated: “The real money online gaming industry is expanding rapidly across North America as new jurisdictions regulate and open to meet the significant consumer demand we see across sports betting, igaming, ilottery and other verticals. We are excited to announce the initial closing of our Fund dedicated to investing in this space.
“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.
“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.”
Alongside the closing, Bettor Capital has established a group of fund advisors to support the ongoing activities, consisting of “leading figures” from the real money gaming, sports, technology, media, telecom and private equity sectors.
These include; Melissa Blau, founder of iGaming Capital, Julie Haddon, former senior vice president of global brand and consumer marketing for the NFL, Steve Kaplan, co-owner of multiple professional sports team included DC United and Swansea City, Carl Sottosanti, former executive vice president and general counsel at Penn National Gaming and Carl Vogel, private investor and advisor and former chairman of the board of FanDuel.
“We are thrilled to formally announce our partnerships with Melissa, Julie, Steve, Carl and Carl,” said Jake Kleiner, investment partner at Bettor Capital. “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.
“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.”
The fund advisors will provide strategic support and operational expertise for the fund, its limited partners and portfolio companies across critical leadership domains, including legal and regulatory compliance, brand and marketing, and strategy executive development.
“The opportunity to join this team and impact the growing development of tech infrastructure that is powering these dynamic new startups in the real money gaming space is exciting,” Haddon concluded.
“We’re honoured to be working with this extraordinary team to help scale the technology businesses that are innovating how consumers will experience these exciting new betting products.”