Artist Capital Management raises $100M for esports fund

Investment management firm Artist Capital Management has raised $100 million (£77.9 million) for its Artist Esports Edge Fund.

The fund “seeks to provide institutional investors with concentrated exposure to leading esports companies.”

Artist Capital Management Esports Fund
Image credit: Artist Capital Management Esports Fund

RELATED: 100 Thieves closes $35M Series B funding round

Josh Dienstag, Chief Investment Officer of Artist Capital Management discussed the venture in a release: “Similar to the evolution of other internet verticals, we expect that a small number of esports companies will eventually win the lion’s share of industry revenue and market capitalization. We hope to partner with the entrepreneurs who are building those winning platforms.”

Artist Capital Management led 100 Thieves’ Series B round, which was announced in July. The North American organisation raised $35 million (£27.3 million) and is using the capital to develop a 15,000 square foot headquarters in Los Angeles, expand its esports offering, and bolster its apparel arm.

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The Artist Esports Edge Fund has also invested in Washington Esports Ventures, the ownership group behind Overwatch League franchise Washington Justice.

John Robinson, President & COO of 100 Thieves commented on the company’s esports efforts: “Artist Capital Management has been an excellent partner: they understand our industry, appreciate our differentiation and support our vision. The esports industry is fundamentally changing entertainment and brand affinity and we’re really happy to be working with a firm that recognizes these trends.”

Esports Insider says: Having already invested in 100 Thieves and Washington Justice, it’s hard to know the exact target of the fund – the former is a lifestyle and esports hybrid and the latter is a franchise. With that said, its investment in 100 Thieves fills us with some hope in terms of it making clever choices with the money it has raised.

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