There’s plenty of money swishing around the esports market, with investors and celebrities alike keen to get involved in professional gaming. Drake and Scooter Braun are among them: both are co-owners of esports company 100 Thieves, which operates teams in various pro leagues; has a thriving line of merchandise; and runs channels on Twitch for some of its popular gamers.
Now the company has raised its latest funding round: $35m, led by Artist Capital Management. The company is now valued at $160m according to its CEO Matthew Haag, talking to TechCrunch.
The company says it plans to use the funding to add more teams in new games, as well as building a new Los Angeles headquarters that will include content-production studios and a merch store.
The round follows 100 Thieves’ Series A round in October 2018, which was the one that included Drake and Braun. The latter praised Haag’s strategy. “He has a clear vision for where esports is going and how to build an amazing brand within it, and that’s why I wanted to bet on him and 100 Thieves,” said Braun at the time.