CVC has announced that its fund CVC Capital Partners IX (Fund IX) has agreed to invest in Chess.com, the world’s largest online chess platform. CVC joins longstanding investor General Atlantic, which will remain a shareholder, as Chess.com continues to expand its platform and strengthen its offerings.
Chess.com is the largest chess community in the world, with over 250 million members worldwide and 10 million daily active users. It’s offering includes live play, game analysis, puzzles, and lessons, alongside live coverage of major tournaments, a social community, and a library of courses.
With over 650 team members, Chess.com operates as a fully remote organisation. CVC says it will work with the Chess.com team to keep improving the product and growing the game’s presence on the world stage. The firm added that its expertise in live events, media rights, and sponsorship opens real possibilities for chess to reach new audiences.
Goldman Sachs served as the exclusive financial advisor to Chess.com. Terms of the transaction were not disclosed.
