Jake Paul’s Anti Fund has made its next big bet.
The controversial YouTuber-turned-boxer’s nascent venture capital firm has led a $30 million round in Simplebet, a business-to-business platform that enables sports-betting operators, media companies, and technology companies to offer micro-betting — or wagers on small moments within sporting events, like who will make the next catch.
The funds will seek to accelerate consumer adoption of micro-betting, Simplebet says, by expanding the company’s existing NFL, MLB, and NBA products. It will also bring micro-betting to additional sports and new micro-market subcategories, while financing the expansion of engineering resources and other strategic opportunities.
The round arrives after sports-betting operator DraftKings announced a multi-year pact to bring Simplebet capabilities to its platform earlier this week.
All told, three-year-old Simplebet has raised $80 million to date from Aristocrat Technologies, the San Francisco Giants, MGM Resorts chairman Jim Murren, former Starbucks chief Howard Schultz, New Jersey Devils minority co-owner David Blitzer, and tennis legend Andre Agassi.
Anti Fund was founded by Paul and the entrepreneur Geoffrey Woo in March, with plans to focus on startups in the consumer, creator economy, and ecommerce enablement spaces. Nakisa Bidarian, the founder of BAVAFA Sports — the sports and media talent advisory that represents Paul — has also joined Anti Fund as an operating partner and is co-leading the Simplebet investment.
As part of the deal, Woo and Bidarian will join Simplebet’s board as director and board observer, respectively.
“Geoffrey and I founded the Anti Fund to create a space for high-growth companies like Simplebet to make an impact throughout the industry, and we’re thrilled to help them achieve the success they deserve,” Paul, who will fight Tyron Woodley on Showtime this weekend, said in a statement. “I’m also excited for the team to be joined by Nakisa, who has the expertise and knowledge base that will push the company even further.”
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