aXiomatic, an ownership group that acquired a controlling stake in Team Liquid in September 2016, has brought in $25,000,000 (£18,777,875) in a Series B investment funding round led by Golden State Warriors’ executive board member Bruce Karsh.
First reported by ESPN, this investment was discovered via an April document filed with the Securities and Exchange Commission.
The round included investment from current, existing board members of aXiomatic; including Ted Leonsis, Owner of Washington Wizards, Peter Guber, Co-Owner of Golden State Warriors, and Jeff Vinik, Owner of Tampa Bay Lightning. Vernon & Park Capital, a private equity capital firm, also invested into the group.
As part of this investment, Karsh has joined the board of aXiomatic. Originally the co-founder of Oaktree Capital Management, which he launched in 1995, Karsh has plenty of experience in investment and adds a wealth of knowledge to the board.
Karsh discussed the investment in a media release: “I am delighted to team up again with my Golden State Warriors’ partner, Peter Guber, whom I consider to be a visionary in the sports and entertainment worlds. And the opportunity to become partners with Ted Leonsis and Jeff Vinik, two other highly accomplished sports, entertainment and financial wizards, was an equally compelling consideration. With the skilful guidance of my partners and our co-founder and CEO Bruce Stein, I expect aXiomatic and Team Liquid to enjoy a fantastic future.”
As well as having a majority stake in Team Liquid, aXiomatic has shares in esports tournament organiser, Super League Gaming.
Esports Insider says: Team Liquid is performing well in a number of titles and continues to grow, so there’s no surprise that its parent company has received such a sizable investment. It’s a good sign that existing investors have increased their contribution, too.