Esports investment report, June 2023: G1, MOBA Network, Guild, GGTech

esports investment june 2023
Image credit: Esports Insider

This is a roundup of the most important esports investment stories from June 2023.

June was a positive month for investments, with a respite from the usual bad news that often dominates headlines. We saw GGTech secure an investment, Guild enter simulation racing and G1 acquire a gaming PC brand all in the same month. The biggest story was arguably MOBA Network acquiring Porofessor parent company Wargraphs.

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Spotlighted story

Image credit: M.O.B.A. Network / Porofessor / Overwolf

Gaming media company M.O.B.A. Network (MOBA Network) announced the acquisition of Wargraphs, the company behind League of Legends companion app Porofessor, for up to €50m (~£42.8m).

The acquisition will see Porofessor join MOBA’s list of online communities such as Leaguespy, Dotafire, Counterstats and others. The company noted that the acquisition will help it grow its portfolio of supported games.

gamers first
Image credit: G1 Esports / Evolve

North American esports organisation Gamers First (G1) announced the acquisition of Evolve PCs, a company specialising in creating custom PCs.

The aim for G1 is to diversify its income streams, helping the organisation make steps towards profitability in the near future. Evolve’s team of six employees also joined G1, together with all of its branding and inventory.

Image credit: GGTech Entertainment

Esports company GGTech Entertainment secured $12.4m (~£9.75m) in investment from growth equity firm Glisco Partners and investment management company Heart Beat.

According to a release, the investment will focus on GGTech’s entry into North America, as well as propelling its presence in Europe, MENA and LATAM. Further fueling GGTech’s expansion, the company recently acquired UK-based university esports company NUEL

Guild Esports
Image credit: Guild Esports

UK-based esports organisation Guild Esports announced the completion of a £622,200 fundraise. 

As a result, Guild Esports will use the capital to help facilitate investment into Guild Racing, the organisation’s sim racing roster. In addition to bolstering its sim racing roster, the funds will also be used to ‘execute existing strategy’ as well as help day to day running of the company.

Image credit: Qlan

Indian esports and gaming social media platform Qlan announced a $200,000 (~£158,266) pre-seed round, led by Marwah Sports, CIIE.CO and Faad Network.

The money will be used to scale the company and establish a product-market fit ahead of possible new rounds in the future, according to a release. The investment has been led by the Marwah Group, a commercial real estate company; incubator and startup accelerator CIIE.CO; and investor network Faad Network Limited.

Gamers8 Club Awards Gamers8 Saudi Arabia
Image credit: Saudi Esports Federation / Gamers8

The Saudi Esports Federation launched Gamers8 Club Awards, a fund to reward esports organisations competing at its esports festival Gamers8.

The fund will distribute a total of $5m (~£4m) in prize money to esports organisations that place well across multiple titles at the festival. The rewards are in addition to the festival’s record-breaking $45m (~£38m) prize pool, which is split between several esports tournaments taking place at the Saudi Esports Federation-run festival.

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.