Fnatic recently announced the company secured $17 million in the organization’s most recent round of funding. This money will be used to help the British organization continue expanding into other markets.
This round of funding was led by Marubeni Corporation, a Japan-based company. Marubeni Corporation has also established a partnership with Fnatic to create an office in Japan to guide the company’s expansion into the Asia-Pacific esports market.
Fnatic has held several funding rounds. To date, the organization has raised over $44 million from investors.
Fnatic is a United Kingdom-based organization that was founded in 2004. The organization has teams competing in League of Legends, Dota 2, and VALORANT.
The Profit‘s Take:
We continue to see more and more evidence of esports teams essentially being black holes for venture money. Fnatic has taken a more unorthodox approach with a mix of crowdfunding (their last round) and a strategic investor this time around. Either way, it’s very likely these teams will need to consolidate to achieve sufficient scale to go public and access capital markets. The private wells of money won’t last forever.