G2 Esports receives €15 million in funding round
Berlin-based esports organisation G2 Esports has received €15 million (£12.9 million) in investment following a funding round.
The round was led by Parkwood Corporation, Everblue Management, Seal Rocket Partners, Dan Gilbert, and Al Tylis.
As well as the aforementioned investors, the funding includes contributions from Brian Distelburger, Co-founder and President of Yext, Myke Naef, Founder of Doodle, and YuChiang Cheng, President of Topgolf Media.
Carlos “ocelote” Rodriguez, CEO of G2 Esports discussed the investment in a statement: “The backing from this distinguished group of business leaders is a testament to the future growth of this organization. After an incredibly successful 2018 where we positioned ourselves as one of the leading entertainment assets in esports, G2 is doubling down on international growth, and continuing our investment in world-class content creation. We have partnered with the right investors, who have a deep understanding of a variety of entertainment industries, and significant experience in scaling successful companies and brands.”
The capital will be allocated to speeding up G2 Esports’ efforts in global expansion, funding its franchsing fees, and investments in “world-class business and content operations”. In August 2017, G2 Esports announced the closure of a funding round that included the likes of FC Barcelona midfielder André Gomes.
Distelburger also commented: “G2 Esports is well-positioned for exponential growth as it commits to seeing the advancement of LEC and the esports industry as a whole. We believe in the founding team and are thrilled to be a part of G2 Esports’ continued momentum and international expansion.”
Esports Insider says: G2 Esports is keeping up the trend of esports organisation receiving major investments, and the caliber of those who contributed in the round is impressive. Riot Games’ franchising fees for the LEC aren’t cheap, but the organisation will still have plenty of capital left to play with.