Fnatic raises $7 million
eSports team's investment round led by exec of AS Roma and Boston Celtics co-owner, director of MIT Media Lab
Money continues to pour into the eSports world, as Fnatic today announced that it has closed a financing round that saw more than $7 million committed to the eSports organization. The group, which runs eSports teams in a variety of top games, will use the money to build out its infrastructure and support staff, as well as further grow its apparel business, which last year opened its first retail location.
Perhaps the biggest name in this investment round was The Raptor Group, the private investment company of AS Roma president and Boston Celtics co-owner Jim Pallotta. Also participating were MIT Media Lab director Joi Ito, the Hersh Interactive Group, and Hannes Wallin, CEO and founder of Swedish PC hardware company Fractal Design.
"There has been strong growth in eSports, which has accelerated in recent years, but the major shift has been in the acceptance and inclusion by sports franchises, media companies and high profile individuals who have entered and advanced the industry rapidly," said Fnatic founder Sam Mathews. "We're incredibly excited by the opportunities available within eSports, and having world class investors and advisors only enhances our ability to address these opportunities and continue to innovate."