Coingaming CEO steps up to focus on venture capital vehicle
Chief operating officer Maarja Pärt to take over from Tim Heath as crypto-first firm promotes from within
Coingaming COO Maarja Pärt will become the operator’s new CEO after Tim Heath stepped up to focus on his venture capital vehicle after seven years as chief executive. Heath, who co-founded the crypto-first gaming group, will remain on the board of directors at Coingaming, as well as fully focusing on his role as a general partner at venture capital firm Yolo Investments. Yolo Investments, formerly known as Vereeni Investments, operates as Coingaming’s venture capital arm and has a portfolio of 44 investments across fintech and gaming to date. The VC vehicle has previously invested in Global Gaming, Megalotto and Green Jade Games. Pärt is set to step up from her role as COO, a position she has held since February 2018, to replace the departing Australian. Coingaming noted that the role of the CEO will now be more focused on the Sportsbet.io, Bitcasino.io and Slots.io brands, with Heath free to tackle the VC market. Replacing Pärt as COO is former head of VIP Anita Brinke, who has been with Coingaming since May 2017. Speaking on his decision to step up, Heath said it was driven by the desire to expand the group via its investment operations. Heath said: “This is one of the proudest moments of Coingaming for me. As we get to see how much the group has grown, as part of our next growth chapter we will be actively focussing on building and expanding the investment arm to further bolster the group’s global remit. “We are very excited to extend our focus into banking and disruptive crypto opportunities, alongside our existing gaming and fintech assets; the future looks very exciting. One immediate benefit of these changes is that we’ll be able to work with our the Sportsbet.io and Bitcasino.io brands, spearheaded by our newly appointed CEO, as investments alongside the other 44 the group has made to date,” he added. New CEO Pärt said: “Today marks a new chapter at Coingaming and it’s a chapter that, in comparison to our beginnings, looks incredibly different. We now have more pioneering projects, partnerships and possibilities than ever before but still, our core mission to disrupt and innovate remains unchanged.” Coingaming Group is set to open a new state-of-the-art Tallinn-based office after two years of construction.