Top British esports organization Excel Esports has raised a reported £17m (~$23m) ahead of the org’s huge expansion plans.
At the time of writing, Excel competes in the League of Legends European Championship franchised league, as well as housing Fortnite pro Jaden ‘Wolfiez’ Ashman and a Valorant team, though that list could grow further soon.
Excel also boasts Tottenham Hotspur and England footballer Dele Alli as an ambassador, having made no secret of his love for gaming with Fortnite Twitch streams in the past.
The fundraising is being led by JRJ Group, which acquired a majority stake in EXCEL in 2018 alongside TOMS Capital, the family office of former hedge fund manager Noam Gottesman.
As reported by Sky News, Excel’s existing investors will be joined by IPGL, the private investment office of Lord Spencer, the ICAP founder, and former Conservative Party treasurer.
They also report that the family office of Alan Howard, the co-founder of Brevan Howard, a wildly successful hedge fund, is also investing in the company, placing a pre-money valuation on Excel of around £100m.
Wouter Sleijffers, Excel’s chief executive, said: “Together with our investors, I’m truly excited to be entering the next chapter, building on EXCEL’s legacy and realizing our shared vision for the future of esports and gaming.
“We now have all the elements in place to aim for more, to go from a household name in UK esports to an internationally recognized, diverse British gaming brand with the ability to derive maximum value from ongoing sector expansion and the growing digitization of consumer behavior.”
Information supplied to Sky News by the company said its fans had an average age of 32 and a household income of £55,000, which is no doubt a huge reason for investors’ interest in the organization.
On July 1, it was revealed that Excel would be one of several UK-based esports organizations set to form the UK Esports Team Committee, a not-for-profit committee with the goal of “progressing and growing the UK esports industry.”
With this investment round, there’s no doubt Excel are looking to further enhance their grasp on the esports space, and it will be interesting to see how the investment helps evolve the brand.