Esports investment report, November 2021: OpTic Gaming, Weibo, Dubit

Whilst the year is starting to wind down, a multitude of esports entities are still busy securing investment, announcing mergers and acquiring companies within the sector.

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

Spotlighted Story:

OpTic Gaming and Envy Gaming announce merger

Image credit: OpTic Gaming / Envy gaming

North American esports organisations OpTic Gaming and Envy Gaming have announced a merger that will see both entities operate under a joint brand in the future.

As a result, the Texas-based Call of Duty League franchise Dallas Empire will be rebranded to OpTic Texas for the 2022 Call of Duty League season. The merger sees two of the biggest names in Call of Duty esports join and operate under a single team in the CoD League. 

Dubit raises $8m to launch first metaverse esports league

Image credit: Dubit

Video game studio Dubit has raised $8m (~£5.9m) in funding to launch the first esports league in the metaverse.

As a result, the studio will host esports tournaments through the online game platform Roblox. The funding, raised by Metaventures and French investor Jean-Charles Capelli, will enable Dubit to expand its presence by launching the Metaverse Gaming League (MGL). 

Enthusiast Gaming acquires U.GG for $45m

Enthusiast Gaming
Image credit: Enthusiast Gaming

Toronto-based media and content platform Enthusiast Gaming has announced the acquisition of Outplayed, the parent company of League of Legends statistics and data visualisation service U.GG.

The total consideration is approximately $45m (~£33.6m) in cash and stock, which will be paid at closing and through a schedule of deferred payments.

Weibo purchases Suning LPL spot

Image credit: Suning / Weibo ( ESI Illustration)

Chinese microblogging and social media platform Weibo has purchased a slot in League of Legends’ franchised league, the LPL, from esports organisation Suning Gaming.

The agreement, which was officially announced on the social media platform, sees Suning be renamed to Weibo Gaming.

North Carolina Governor signs $5m Esports Industry Grant Fund

Image credit: Unsplash

Esports entertainment holding company Subnation Media and the Greater Raleigh Convention and Visitors Bureau have announced that Roy Cooper, the Governor of North Carolina, has signed a new State Legislature budget.

The budget will include a $5m (~£3.7m) Esports Industry Grant Fund, which will be used to encourage esports events and productions in the state.

Statespace announces purchase of ProGuides

Statespace x ProGuides
Image credit: Statespace

Statespace, the parent company of FPS aim training platform Aim Lab, has announced the acquisition of online coaching platform ProGuides.

The acquisition comes after Statespace raised $50m (~£36.7m) in a Series C funding round that took place in September. Financial details of the acquisition were not disclosed.

Ghost Gaming acquires content organisation One Percent

Image credit: Ghost Gaming

Atlanta-based esports organisation Ghost Gaming has acquired esports content firm One Percent.

As a result of the acquisition, One Percent’s CEO Julian ‘Aeolus’ Castro has been appointed as Ghost Gaming’s Managing Director of Content and Community. According to the release, the transaction is expected to further the organisation’s presence in Atlanta and become ‘the leading platform for popular gaming content creators in the South’.

Talon closes $5m Series A Round led by Animoca Brands

Image credit: Talon

Southeast Asian esports organisation Talon has secured $5m (~£3.7m) in equity capital during its Series A financing round.

The funding round, led by blockchain and NFT company Animoca Brands, will be used to develop digital and blockchain solutions for Talon fans. This includes delivering experiences, collectibles and opportunities via different metaverses, P2E games and NFT platforms.

Metafy announces acquisition of GamersRdy

(ESI Illustration) Image credit: Metafy / GamersRdy

Esports and gaming coaching platform Metafy has announced the acquisition of its former competitor GamersRdy.

According to the release, the purchase is aligned with both company’s mission to ‘help players improve at the games they love through coaching, training and development’. Financial terms of the acquisition were not disclosed.

Kanga Esports acquires Legacy Esports from Adelaide FC

Image credit: Kanga Esports / Legacy Esports

Australian esports organisation Kanga Esports has announced the acquisition of Adelaide Football Club-owned organisation Legacy Esports.

As a result of the purchase, Kanga Esports will take over Legacy’s slot in the League of Legends Circuit Oceania (LCO). Legacy Esports has been competing for almost a decade in Oceania.

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