Bettor Capital Announces Initial Closing of Real Money Online Gaming Investment Fund
Former FanDuel and Barstool Sports CEO Joins Established Software Investor to Launch Groundbreaking Venture Capitalist Backed by Leading Group of Advisors
NEW YORK, October 06, 2021– (COMMERCIAL THREAD) – Bettor Capital, an investment platform focused on the real money online gaming market opportunity, has announced the initial closing of its Fund I. The Fund will focus on investment opportunities at a early stage in software and technology facilitating real money online gaming operations, focusing primarily on the North American market. The fund will be one of the first of its kind dedicated to enabling technologies supporting the rapid expansion and digital transition of the real money gaming industry.
Bettor Capital was founded by industry veteran David VanEgmond, who previously held executive positions at FanDuel and Barstool Sports and is joined by Jake Kleiner, a seasoned software and fintech investor who recently launched and led the early stage investing practice at US Bank and was previously an investment professional at Vista Equity Partners.
âThe real money online gaming industry is growing rapidly in North America as new jurisdictions regulate and open up to meet the significant consumer demand that we see in sports betting, iGaming, iLottery and other verticals. We are delighted to announce the initial closing of our dedicated fund to invest in this space, âsaid VanEgmond. âOur industry network and domain knowledge, combined with our software investment experience, allow us to support entrepreneurs in a compelling and differentiated way as they grow in this industry. We look forward to developing and continuing our practice of partnering with leading technology companies that deliver sustainable and mission-critical software solutions in this high-growth market. “
To support the ongoing activities of the fund, Bettor Capital is delighted to announce that it has officially created a group of fund advisers. This group includes leading figures from real money gaming, sports, technology, media, telecommunications and private equity who have leadership and board experience in a diverse set of fields. Fund advisors will provide strategic support and operational expertise to the fund, its sponsors and portfolio companies in critical leadership areas including legal and regulatory compliance, branding and marketing, development of strategic frameworks, etc. . Bettor Capital’s fund advisors will include:
Melissa Blau, founder of iGaming Capital, a consulting firm specializing in the online casino industry; former general partner and co-founder of a $ 450 million MediaTech venture capital fund in association with Bear Stearns;
Julie Haddon, former senior vice president of global brand and consumer marketing for the NFL; two decades of leadership and consulting roles at SoFi, eBay, DreamWorks, Zynga and Twitter; co-owner of the Chicago Red Stars NWSL professional women’s soccer team;
Steve Kaplan, co-owner of several professional sports teams, including DC United and Swansea City; co-founder of private equity firm, Oaktree Capital Management;
Carl Sottosanti, former executive vice president and general counsel of Penn National Gaming, Inc. where he served for nearly two decades; current member of the Fubo Gaming Board and chairman of the compliance committee and adviser to other early stage real money gaming companies;
Carl Vogel, private investor and advisor; current board member of several public companies, including SiriusXM; former chairman of the board of directors of FanDuel; former Chairman of Dish Networks and CEO of Charter Communications;
âWe are delighted to officially announce our partnerships with Melissa, Julie, Steve, Carl and Carl,â said Jake Kleiner, investment partner at Bettor Capital. âWe are grateful for their support and delighted with the expertise they have already brought and will continue to bring to increase the capabilities of our investment platform. The subject matter knowledge, focus and expertise these individuals bring to the table are unparalleled in their respective fields and we could not be more pleased to have them each on board as advisors to Bettor Capital. “
“The opportunity to join this team and have an impact on the growing development of the technological infrastructure that powers these dynamic new startups in the real money gaming space is exciting,” said Julie Haddon, member of the advisory board. . âWe are honored to work with this amazing team to help evolve technology companies that innovate in the way consumers experience these exciting new betting products. “
About Bettor Capital
Bettor Capital is an early stage venture capital firm focused on the real money online gambling opportunity. We focus on investments primarily in the supply chain of B2B business software that powers the digital gaming ecosystem.
Founded by a team combining leading operational experience in the real money gaming space with significant professional experience in technology investing, we pride ourselves on being active, strategic and value-added investment partners who leverage of our in-depth expertise, industrial relations and investment experience to help support and generate superior results for our Bettor portfolio companies. For more information, please visit BettorCapital.com.
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