Fnatic Raises $10M Financing Round, Launches Crowd Equity Campaign
British esports organization Fnatic announced that it has raised a $10M USD internal financing round led by Beringea. Further investors in the investment include existing investors Unbound, LVL1 Global, JHD as well as key management. The funding round brings Fnatic’s total funds raised to $35M. The organization intends to use the investment proceeds to “support the global growth of its pioneering esports brand and drive the success of its leading high-performance teams.”
Furthermore, Fnatic also announced that it will launch a crowd equity campaign on Nov. 19 with the British crowdfunding platform Crowdcube. The organization is looking to raise a minimum of £1M ($1.3M) through this campaign by allowing fans to become investors starting at £20 ($26.50). Proceeds of the crowdfunding campaign will be allocated to Fnatic’s efforts in finding and growing young gaming talents.