Jake Paul’s New Fund Invests in Sports-Gambling Firm Simplebet

YouTube personality-turned-boxer Jake Paul is getting into the sports-betting business with his new venture capital fund as the industry increasingly gains mainstream acceptance.

Simplebet Inc., which allows bettors to place wagers on individual moments during games, is raising $30 million in a financing round set to be announced Thursday. The investment is being led by Paul’s Anti Fund and former UFC executive Nakisa Bidarian, who now runs talent advisory firm Bavafa Sports.

Jake Paul in Cleveland, Ohio, on Aug. 25.

Photographer: Jason Miller/Getty Images

The capital brings Simplebet’s total to about $80 million. Previous investors include gaming company Aristocrat, Starbucks Corp. Chairman Emeritus Howard Schultz and tennis legend Andre ...