Soft2Bet is making a substantial investment in entrepreneurs in the gaming industry.
The Malta-based sports betting and online casino platform provider has launched Soft2Bet Invest, an investment fund to provide financial and operational support to iGaming and casual gaming entrepreneurs. The fund aims to create an opportunity for entrepreneurs to build innovative products that allow brands and operators to scale their businesses.
Soft2Bet has vowed to invest between $535,000 and $1 million per project in growth-state and mature companies focusing on AI, behavioral-UX analytics, and software solution providers. The fund has launched with a total value of $53.5 million and provides a unique opportunity for entrepreneurs behind Soft2Bet’s relationship with players.
“Essentially what we’ve done is we’ve taken some of the main concepts from casual gaming and built it to enter the casino experience in order to drive levels of engagement that you might not find with any other sports or casino business within not just the U.S. market but European markets as well,” Soft2Bet Chief Business Development Officer Martin Collins told SBC Americas earlier this year.
Soft2Bet is investing in entrepreneurs as it prepares to launch an iGaming brand in Ontario.
Earlier this year, the Alcohol and Gaming Commission of Ontario granted Soft2Bet a Certificate of Registration to launch Tooniebet.com. Ontario gives Soft2Bet another robust market with gross gaming revenue in the province reaching $481 million in 2023.
Investment craze
The gaming industry’s recent growth has drawn strong investor interest in America.
Last month, VC firm Sharp Alpha Advisors closed its second investment fund. The fund raised more than $25 million exceeding its target. Sharp Alpha Fund II invests in early-stage companies specializing in sports, gaming, and entertainment.
The fund is supported by public companies, pro sports team owners, U.S. financial institutions, and venture capitalists. As of June 28, Sharp Alpha Fund II has existing investments in C15 Studio, the operator of Formula 1’s streaming channel.
Sharp Alpha closed its first fund in 2021 after raising $10 million for betting startups.
