Started by Dave VanEgmond, who’d previously worked at FanDuel and Barstool Sports, Bettor Capital has already raised more than $50 million, with the goal of reaching $120 million.
Bettor Capital, the venture firm launched last year by gambling executive Dave VanEgmond, has closed its first fund, more than $50 million that it will focus on real-money online gaming applications: everything from sports betting, horse racing and fantasy to online casino games, poker and lotteries.
The firm is looking primarily for business-to-business opportunities, the software and technology that powers the rapidly growing industry, according to VanEgmond. It intends to keep raising money in the next few months, with the goal of ultimately reaching $120 million.
Last week the fund announced its first investment, a content automation platform called Data Skrive. VanEgmond also has a new partner, Jake Kleiner, a software and fintech investor whose previous stops include U.S. Bank and Vista Equity Partners.