Esports investment report, June 2022: X7, Envy, Los Grandes and more

esports investments june 2022
Image credit: Esports Insider

The first days of summer brought somewhat of a slowdown on the investment front, but the absence of big-name news did leave the door open for smaller-scale, albeit still highly consequential developments.

The Isle of Man’s X7 Esports absorbed a much bigger neighbour, Brazil’s Los Grandes bought out NA organisation Simplicity’s Brazil branch, and in India a community/fantasy platform raised $40m (~£33.3m).

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Spotlighted story

Image credit: X7 / London Esports

Isle of Man-based esports organisation X7 Esports has announced the acquisition of British organisation London Esports.

As a result of the purchase, Alfie Wright, London Esports’ Founder and CEO has become X7 Esports’ new Chief Operating Officer (COO). Financial details of the acquisition were not announced.

Image credit: OpTic / Envy

North American esports organisation Envy Gaming will retire its branding from esports and its name will be absorbed into OpTic Gaming, OpTic’s President Hector ‘Hecz’ Rodrigues and Chief Gaming Officer Mike ‘Hastr0’ Rufail announced on a podcast episode.

As a result, all existing Envy teams will compete under the OpTic name going forward, apart from its Overwatch team, which will stay as Dallas FuelEnvy Gaming and OpTic merged in November 2021.

Image credit: Los Grandes

Brazilian esports organisation Los Grandes has announced it has purchased 100% of North American organisation Simplicity Esports‘ Brazilian branch, becoming the sole owner of a spot in the Brazilian League of Legends Championship (CBLOL).

It comes just weeks after Los Grandes purchased 20% of the Brazilian branch. The announcement was made at a press conference attended by Esports Insider on June 10th. Financial terms were not disclosed.

Image credit: Jorge Lepesteur / Nicolle ‘Cherrygumms’ Merhy

Brazilian esports entrepreneur and former Rainbow Six Siege professional player Nicolle ‘Cherrygumms’ Merhy has acquired the entirety of Brazilian esports organisation Black Dragons.

Merhy previously owned 50% of the organisation, sharing ownership with original Black Dragons founder Denis Vidigal da Costa.

Adamas Esports
Image credit: Adamas Esports

Esports performance company Adamas Esports has announced the acquisition of its European competitor Gscience.

As a result, Adamas will integrate Gscience’s leadership, coaches and clients into the company. Moreover, Adams has acquired and will utilise Gscience’s entire tech stack and mobile application.

Image credit: Fanclash

Indian esports startup FanClash has secured a Series B funding round investment of $40m (~£32m), led by Sequoia Capital, Falcon Edge, Info Edge India and Matic Network.

The company plans to use the funds to scale and hire additional talent for its fantasy esports platform and esports tournament operations.

Ivan Šimić
Ivan comes from Croatia, loves weird simulator games, and is terrible at playing anything else. Spent 5 years writing about tech and esports in Croatia, and is now doing it here.