Fnatic receives $7 million investment


Esports
Date: 11th Apr, 17

Fnatic, one of Europe’s biggest esports organizations, has received over $7 million in a round of funding from investors, including NBA’s Boston Celtics, owners of AS Roma, and others ranging from different industries.

Once again we’re looking at non-endemic interest in competitive gaming as Fnatic secure a large sum from a funding round which included names like Joi Ito, director of the MIT Media Lab, and Hanness Wallin, CEO and founder of Fractal Design (computer hardware manufacturer).

Fnatic founder Sam Matthews said in a press release:

“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.”

Fnatic partnered up wiht AS Roma to start their FIFA division back in February, and after a successful month it’s no surprise the Italian club have offered to stick around. Boston Celtics, on the other hand, are no stranger to esports. Jonas Jerebko is the owner of LCS team Renegades, and a long time lobbyist for esports.

Fnatic have now set their sites on the Overwatch League, a city-based tournament which is coming with quite a price tag, which shouldn’t be an issue from here on out.

Matthew’s concluded his statement:

"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."

Source: Forbes

 

By Kyle Wolmarans