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Artist Capital Management raises $100 million fund to invest in esports

[2019.11.13, Wed 14:05] Artist Capital Management has closed a $100 million fund dedicated to investing in esports. The fund is called the Artist Esports Edge Fund, and it is aimed at getting institutional investors a chance to reap some of the potential rewards of esports investments. Second, Artist Capital Management believes that esports revenue - at $900 million in 2018 - has significant potential to expand in comparison to traditional sports leagues, with the NFL alone generating over $16 billion of revenue in 2018. The Edge Fund's current investments include 100 Thieves, the Los Angeles-based lifestyle brand and esports organization; Washington Esports Ventures, the owner of the Washington Justice team in the Overwatch League; and chatting and viewing apps in the ecosystem. "Artist Capital Management was an early mover in esports, and the Edge Fund provided an institutional solution for esports investing." "Artist Capital Management has been an excellent partner: they understand our industry, appreciate our differentiation and support our vision. The esports industry is fundamentally changing entertainment and brand affinity and we're really happy to be working with a firm that recognizes these trends," said John Robinson, president and chief operating officer of 100 Thieves, in a statement. "Artist Capital Management is the premier institutional investor in esports," said Mark Ein, CEO of Washington Esports Ventures, in a statement.
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