New York and Charlotte-based investment management firm Artist Capital Management has secured and additional $100 million for its Artist Esports Edge Fund.
According to the firm, the fund “seeks to provide institutional investors with concentrated exposure to leading esports companies.”
Discussing the fund, Chief Investment Officer of Artist Capital Management, Josh Dienstag, said:
“Similar to the evolution of other internet verticals, we expect that a small number of esports companies will eventually win the lion’s share of industry revenue and market capitalization. We hope to partner with the entrepreneurs who are building those winning platforms.”
One of the esports organisations Artist Capital Management has already invested in is LA-based 100 Thieves. In July, the firm led 100 Thieves’ Series B round, which raised $35 million and is being used to develop a 15,000 sq ft HQ in Los Angeles, grow its apparel division and generally expand its core esports offering (read more).
Commenting on the fund, President & COO of 100 Thieves, John Robinson, said:
“Artist Capital Management has been an excellent partner: they understand our industry, appreciate our differentiation and support our vision. The esports industry is fundamentally changing entertainment and brand affinity and we’re really happy to be working with a firm that recognizes these trends.”
Overwatch League franchise Washington Justice owner, Washington Esports Ventures, has also benefited from the Artist Esports Edge Fund, and its CEO, Mark Ein, added:
“Artist Capital Management is the premier institutional investor in esports. They know the industry better than anyone else and are deeply engaged to use that expertise for the benefit of their portfolio companies. They have been a terrific partner for us since the first day that we met them.”
AYO.NEWS says:
Artist Capital Management is clearly keen on building a series esports portfolio, and their pockets seem pretty deep. Given they’ve already invested in both an esports lifestyle brand and a franchise, it will be interesting to see where the money flows next.
AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.
