Game Publishers and Esports Orgs Raise Nearly $2B in Funding in October
October was by far the most significant month of the year for video game investments. Game publishers raised nearly $2 billion in funding. Epic Games was the leader in the pack, attracting the lion's share of the funds to end October with $1.25 billion from high-profile investors.
$1.25B – Epic Games
Launching a video game that becomes a cultural phenomenon has financial benefits, apparently. After the stellar success of Epic's battle royale game and esport Fortnite, the publisher secured investments from ICONIQ Capital, Smash Ventures, aXiomatic, and others.
$21.5M – OverActive
As the proud new owner of the Toronto Defiant Overwatch League Team, OverActive Media was able to pull $21.5 million from investors last month. The company plans to spend the money on initial operations for the organization. OverActive owns a majority stake in Toronto Defiant, but the team will be overseen by the esports organization Splyce.
$26M – Team aXiomatic
Team Liquid's parent company, aXiomatic, got a major boost in October from basketball legend Michael Jordan and other investors. The investment follows a successful spring funding round that brought $25 million to aXiomatic from Golden State Warriors board member Bruce Karsh.
$50M – Cloud9
Valor equity led Cloud9's funding round that ended in October with $50 million. The organization plans to put the money into its new training facility in Los Angeles. The goal is to open the facility in time for the 2019 competitive season. Part of the investment deal lands Valor Equity managing partner Antonio Gracias a spot on Cloud9's board.