Games Round

100 Thieves esports association brings $35M up in Series B financing

Established in 2017, the Los Angeles-based association is currently esteemed at $160 million as per CEO and organizer Matthew 'Nadeshot' Haag.

Universally, esports is relied upon to turn into a billion-dollar industry before the current year’s over, have a greater number of watchers than tennis by 2022, and is gradually turning into a staple at major games like the Asian Games. The most recent organization to profit by the esports air pocket is 100 Thieves, which was established in 2017 by previous master gamer and OpTic Gaming chief Matthew Haag, otherwise called Nadeshot. As revealed by TechCrunch, 100 Thieves has brought $35 million up in its second round of financing, bringing its complete valuation up to $160 million.

The Series B subsidizing round was driven by New York venture firm, Artist Capital Management. In an announcement, Nadeshot stated, “This previous year has been an enormous accomplishment for 100 Thieves. Our esports groups are winning titles, our clothing is selling out, and our web recordings have topped the diagrams… Craftsman Capital Management saw our vision and our advancement and has ventured up to help us.” 

Since its establishing, 100 Thieves has expedited some outstanding co-proprietors: rapper Drake, sports establishment proprietor and extremely rich person Dan Gilbert, and Scooter Braun, who as of late stood out as truly newsworthy because of his fight with Taylor Swift. That is a ton of monetary and star control behind the organization, which contends in competitions for Apex Legends, Fortnite, Call of Duty, and League of Legends. 

100 Thieves isn’t the main esports organization to collect that sort of cash so far this year; Immortals Gaming Club likewise brought $30 million up in Series B subsidizing before proceeding to gain Infinite Esports and Entertainment (proprietor of Nadeshot’s previous association OpTic Gaming) and a Los Angeles-based Call of Duty group. Despite the potential implications of an esports bubble, there’s no indication of development (or speculation) hindering at any point in the near future.