Mentioned in this article
- Artist Capital Management closed a $100M USD investment for its inaugural fund, the Artist Esports Edge Fund.
- Furthermore, the company raised an additional $35M of incremental capital from its limited partners in separate co-investment vehicles.
- The Esports Edge Fund has a flexible mandate that can invest across stages in both primary and secondary securities.
Today, investment management firm Artist Capital Management LLC announced it had raised $100M to establish its first fund, the Artist Esports Edge Fund. With the Esports Edge Fund, the firm seeks to provide institutional investors with exposure to esports companies.
According to Artist Capital, the fund takes concentrated positions in “leading, private companies” that it believes are well-positioned to benefit from industry tailwinds. Notably, the fund has a flexible mandate that can invest across stages in both primary and secondary securities.
The Artist Esports Edge Fund’s current investments include 100 Thieves, a Los Angeles-based lifestyle brand and esports organization; Washington Esports Ventures, owner of the Washington Justice team in the Overwatch League; as well as undisclosed chatting and viewing apps in the ecosystem.
Matthew Lindholm, managing director at Houston-based CAZ Investments, a principal supporter of the Esports Edge Fund, said, “our investors continue to prioritize access to innovative products that provide thoughtful exposure to burgeoning investment themes. Artist Capital Management was an early mover in esports, and the Edge Fund provided an institutional solution for esports investing.”
With a ten-year duration of capital, the Esports Edge Fund can partner with esports companies for the long term. In July of 2019, the Esports Edge Fund led 100 Thieves’ $35M Series B, and Josh Dienstag, chief investment officer of Artist Capital, joined 100 Thieves’ board of directors.
In addition to the funds going towards the Esports Edge Fund, the firm also raised $35M of incremental capital from its undisclosed limited partners in separate co-investment vehicles. Those funds were all deployed in 2019 to further support Esports Edge Fund portfolio companies.
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Esports organizations in the likes of Team Liquid, 100 Thieves, Gen G. Game developers, including Riot Games and Blizzard. Non-endemic sponsors such as adidas, Anheuser-Busch InBev, and Jack in the Box and more. Sponsored by Lagardère Sports, and presented by Sports Business Journal / Daily, with support of The Esports Observer.
