EXCEL Esports raises EUR20m
EXCEL Esports (EXCEL), a leading British esports franchise competing in League of Legends, Fortnite and VALORANT, has secured EUR20 million (GBP17 million) in new equity capital.
This financing round was led by investment firm JRJ Group which first acquired a majority shareholding in 2018 alongside TOMS Capital LLC, the family office of Noam Gottesman. Amongst the new investors joining them are IPGL Ltd, the family office of Michael Spencer; the family office of Alan Howard; and the international private equity firm TNF Investments.
EXCEL has rapidly grown into a top name in competitive gaming, most notably as a founding partner of the League of Legends European Championship and more recently as the subject of a BBC Documentary, voiced by Peaky Blinders star Cillian Murphy. EXCEL’s unique position in British and European esports forms the foundation of a strategy that has enabled management to build a franchise capable of attracting partners such as BT, HyperX, Sony, Chupa Chups and Beyond NRG.
This investment builds on EXCEL's recent success which has seen revenues more than triple in 2020 following their first year in the LEC, and is a vote of confidence in the Company's ambitious growth plans in a sector that continues on a rapid growth trajectory. With most traditional live entertainment events side-lined in the wake of the pandemic, esports and gaming has thrived, bursting into the mainstream as people spend more time playing and watching games. This trend is set to continue, with market research firm Newzoo projecting the esports audience to reach over half a billion viewers globally in 2022.
Wouter Sleijffers, CEO of EXCEL, says: “Together with our investors, I’m truly excited to be entering the next chapter, building on EXCEL’s legacy and realising our shared vision for the future of esports and gaming. In a very short space of time, EXCEL has cemented itself at the top of British esports attracting significant support from investors, partners, our ambassador Dele Alli, and all on and off- stage talent.
“We now have all the elements in place to aim for more, to go from a household name in UK esports to an internationally recognised, diverse British gaming brand with the ability to derive maximum value from ongoing sector expansion and the growing digitisation of consumer behaviour.”