Esports franchise 100 Thieves, co-owned by hip-hop star Drake, has garnered an additional $35 million dollars in funding from investors, according to an announcement yesterday.
This investment has 100 Thieves now worth over $125 million. This latest round of funding was overseen by Artist Capital Management, a private equity and growth investment firm based in New York, with Aglae Ventures joining in as well, according to the New York Post. Groupe Arnault, head of Aglae Ventures, is also a shareholder of Louis Vuitton Moet Hennessy.
In an official posting on both their website and YouTube, 100 Thieves announced they will put the funding towards a training facility and headquarters based in Los Angeles. Company founder, CEO, and former pro esports player Matt “Nadeshot” Haag, spoke about how the new facility will be a “center for all things 100 Thieves,” establishing it as a new base of operations.
Haag founded 100 Thieves in 2017 in order to explore his interests in competitive gaming, storytelling, and streetwear. The organization was able to receive $60 million dollars in funding from investors including Dan Gilbert and Scooter Braun. Braun is the founder of multimedia company SB Projects and currently at the center of controversy as the current owner of Taylor Swift’s entire masters recording music catalogue.
In addition to the new facility, 100 Thieves announced an increase in production of branded apparel with the construction of an apparel development workshop, as well as a retail shop available for the public to visit and purchase the upcoming apparel drops.
Haag and his company were able to invest in franchises like the League of Legends Champion Series, in which they are currently ranked T7 for the Summer 2019 standings at 5 wins and 7 losses. They are also planning to register a new Call of Duty esports league, with a 25 million initial fee in place.