Team Liquid‘s parent company aXiomatic has brought in $26 million (£20,293,390) in investment through a Series C funding round.
New investors in the company include names such as NBA Hall of Famer Michael Jordan, Curtis Polk, Managing Partner of the Charlotte Hornets, and David Rubenstein, Co-founder of Carlyle Group.
The rest of the fund is comprised of capital from investors and chairmen that already had invested in the company.
In May of this year, aXiomatic raised $25 million (£19,507,375) in Series B funding led by Bruce Karsh, Executive Board Member of Golden State Warriors. The round also included investment from existing board members such as Ted Leonsis, Owner of Washington Wizards, Peter Guber, Co-owner of Golden State Warriors, and Jeff Vinik, Owner of Tampa Bay Lightning.
As well as having a majority stake in Team Liquid, aXiomatic has shares in esports tournament organiser, Super League Gaming.
This isn’t the only high-profile investment news in esports as of late. Earlier this week, it was announced that Grammy winning rapper Drake and talent manager Scooter Braun had invested and became co-owners in 100 Thieves following a Series A funding round.
Not only that, but Cloud9 raised $50 million (£38 million) in Series B funding earlier in the month. Antonio Gracias, Founder and Managing Partner of Valor Equity Partners – the company that led the round of funding – has joined the organisation’s board.
Esports Insider says: Team Liquid is already of a notable size so it’s hard to imagine that it will try to grow too quickly with this investment, presuming it sees a lot of it. Hopefully it doesn’t add to the growing trend of cutbacks and organisational shifts in the industry. Netting Michael Jordan is pretty damn impressive as it is, never mind bringing in a further $26 million.
[maxbutton id=”4″ ]
