Esports investment report, September 2021: Misfits, Wolves Esports, Astralis

11 October 2021


Ranging from team acquisitions to impressive funding rounds, September saw a multitude of esports entities expand into other sectors of the industry. This includes notable announcements from the likes of Misfits Gaming Group, Galaxy Racer, Gfinity, Wolves Esports and Astralis, among others. 

As such, Esports Insider has compiled a list of last month’s key investment stories. To read more about a story below, click the link in the corresponding title.

Spotlighted Story:

Misfits Gaming Group announces $35m funding round

Image credit: Misfits Gaming Group / Scripps

Florida-based esports organisation Misfits Gaming Group (MGG) has announced a $35m (~£25.6m) investment round led by the American broadcasting company E.W. Scripps Company.

According to the release, E.W. Scripps Company will invest $10m (~£7.3m) into MGG’s global esports organisation. This includes its Florida-based Overwatch and Call of Duty franchises, as well as its European League of Legends team.

Wolves Esports enter King Pro League following team acquisition

Image credit: Wolves

Wolves Esports, the esports division of UK football club Wolverhampton Wanderers, has entered Arena of Valor’s King Pro League (KPL) through the acquisition of Chongqing QGhappy by parent company Fosun Sports.

Following the acquisition, the KPL team will change its name to Chongqing Wolves and will continue as the home team for southwest China’s Chongqing region.

Team Nigma merges with Galaxy Racer to become Nigma Galaxy

Nigma Galaxy
Image credit: Nigma Galaxy

Abu Dhabi-based esports organisation Team Nigma has merged with fellow MENA organisation Galaxy Racer.

As a result of the merger, Team Nigma has been renamed Nigma Galaxy and will head up Galaxy Racer’s esports division. According to the release, Nigma Galaxy will operate as a standalone entity with a separate budget, brand and identity.

Gfinity acquires Rainbow Six site SiegeGG

SiegeGG acquisition
Image credit: Gfinity

London-based esports and gaming tournament organiser Gfinity has acquired the trade and assets of SiegeGG Corporation (SiegeGG), a website that focuses on Rainbow Six Siege.

Gfinity is especially interested in SiegeGG’s underlying methodology and technology used to create statistical analysis. This data is sold to members of the esports community, including the game’s own publisher, Ubisoft. Gfinity plans to extend this offering across other game titles.

Astralis purchases Tricked Esport NLC spot

Image credit: Astralis

Danish esports organisation Tricked Esport has announced the sale of its League of Legends NLC spot to fellow Nordic organisation Astralis.

As a result, Astralis’s academy team will now compete in Division 1 of the newly reformed NLC. The news follows on from Astralis Stormbringers, the organisation’s Spanish academy team, being sold to sports and entertainment company Kosmos.

Mineski Global raises $10.6m in Series A funding round

Mineski Global Series A Raise
Image credit: Mineski Global

Southeast Asian-based esports & gaming company Mineski Global has announced a $10.6m (~£7.66m) Series A raise, led by Exacta Capital Partners and with participation from New York-based Endeavor Catalyst.

The deal was advised by Rocket Equities, a Southeast Asia focused M&A advisory firm.

Mobile Premier League valued at $2.3bn after funding round

mobile premier league mpl
Image credit: Mobile Premier League

Mobile esports platform Mobile Premier League (MPL) has reached a pre-money valuation of $2.3bn (~£1.7bn) after a Series E funding round led by Legatum Capital.

The latest funding achievement for the Indian gaming and esports company grants it unicorn status – a privately held startup worth over $1bn – becoming the second Indian gaming startup to do so.

GGPredict raises $1m for US and Scandinavian expansion

Photo credit: GGPredict

Warsaw-based analytics firm GGPredict has announced it has raised $1m (∼£721,758) in a recent funding round.

The investment will allow GGPredict to further develop its analytical and training CS:GO platform and expand into foreign markets, particularly the North American and Scandinavian markets.

X7 Esports acquires Bulldog Esports

Image Credit: X7 Esports

Isle of Man-based organisation X7 Esports has acquired British esports organisation Bulldog Esports.

As a result of the acquisition, the organisation has named Bulldog Esports’s Founder Antony Newton as its new Director of Esports. Financial terms of the purchase were not disclosed.

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