eSports Welcomes Jordan Investment
In recent years, it’s fair to say the eSports market has been growing exponentially. From practically nothing, the industry is expected to create $1.5 billion worth of revenue as millions of people continue to watch the various events around the world. The industry has grown so much that celebrities, sports stars, and even sports teams are investing…and now Michael Jordan has entered the scene.
In a $26-million round of Series B funding, basketball legend Michael Jordan has invested in aXiomatic Gaming who is based in Los Angeles. Although exact figures haven’t been released, he joined David Rubenstein and the Carlyle Group’s Declaration Group by investing through his family office. This figureless investment expands Jordan’s portfolio and adds to his ownership of Charlotte Hornets and other sports brands.
In a recent statement, Jordan said “I’m excited to expand my sports equity portfolio through my investment in aXiomatic. eSports is a fast-growing international industry, and I’m glad to partner with this great group of investors.”
Jordan wasn’t alone in this investment, and another was seen in the shape of Jordan’s financial and business affairs manager, Curtis Polk. Jordan and Polk have a successful partnership in the many Jordan companies and the latter acts as alternate governor, and managing partner, of Hornets Sports & Entertainment.
About aXiomatic Gaming
The brand was a creation from the 2017 accelerator program at Walt Disney Co and has plenty of support from the sporting world as they aim to provide the best eSports experiences. So far, the company has made an impact in the market – aided by their partnership with Team Liquid, a well-known competitive eSports team, and brand. Existing investors and influential figures within the company include;
Magic Johnson – NBA Hall of Famer
Peter Guber – co-owner of the Golden State Warriors and LA Dodgers
Jeff Vinik – Owner of Tampa Bay Lightning
Bruce Karsh – co-Founder of Oaktree Capital Management
Ted Leonsis – Owner of Washington Wizards and Washington Capitals
For Ted Leonsis, now a co-Executive Chairman, he believes that eSports fans are the next generation of traditional sports fans. Since the industry has been multiplying and aXiomatic Gaming has had a positive influence on this growth, the incoming investment from Declaration Capital and Michael Jordan is exciting. Moving forward, Leonsis believes they can introduce some “cutting-edge opportunities”.
Created in 2015, the company wants to establish holdings across the eSports industry through advanced strategies with investments, partnerships, and acquisitions. The company is building a reputation for connecting different eSports groups with technologies, distribution partners, venues, media content, and investment capital.