Esports Global Fund (EGF), a new innovative global investment fund backed by the British Esports Association, will be launched on July 1st.
The fund is run by a team with over 25 years of experience in sports and esports industry. This project aims at esports, new media and the wider games industry to develop a best-in-class mode and manage over €100m of assets for those industries in three years.
It has obtained an initial investment of €30m and is discussing for obtaining a further investment of €50m.
David Martin, Investment Director at Esports Global Fund, commented: “The aim is to create a fund not yet seen in the esports fund arena.
“For us that means using an EU country as the home location, publicly listing the fund on Nasdaq and placing ourselves in view of regulators, all while creating an open-ended, evergreen, partially liquid fund targeting long term capital appreciation.”
Although the fund is located in EU, the fund also includes the investments in the UK and the rest of the world.
Furthermore, the fund will donate funds to support British esports and the CEO of the British Esports Association, Chester King, has agreed to join the fund as the fund’s ‘Entrepreneur in Residence’. He will provide some suggestions for analysing the prevailing trends in the esports industry and linking organisations which are seeking investment opportunities to the fund.
“There are many start-ups, fledgeling esports and new media businesses out there with great potential but lacking the investment to get off the ground,” said Mark “Garvey” Candella, Director of Strategic Partnerships at Twitch.
“This market is crying out for a dedicated, reliable fund and EGF, together with Chester King, are the team to make this happen.”
Esports Insider says: With the launch of Esports Global Fund, it is expected to accelerate the esports commercialisation and further regulate the whole industry. 2019 ESL Birmingham has shown British esports to global esports fans and practitioners; we are looking forward to witnessing the rapid development of British esports with the support of EGF.