A funding round by aXiomatic led by Golden State Warriors executive board member, Bruce Karsh, has raised $25 million for Team Liquid, a subsidiary.
According to ESPN, the round had investments from Ted Leonsis, owner of Washington Wizards, Peter Guber, co-owner of Warriors, and Jeff Viniki, owner of Tampa Bay Lightning.
“I am delighted to team up again with my Golden State Warriors’ partner, Peter Guber, whom I consider to be a visionary in the sports and entertainment worlds,” Karsh said. “With the skilful guidance of my partners and our co-founder and CEO Bruce Stein, I expect aXiomatic and Team Liquid to enjoy a fantastic future.”
Vernon & Park Capital, a venture capital firm based in Chicago, invested in aXiomatic alongside Karsh. The large investments by Karsh has landed him a spot in the aXiomatic boardrooms and he will likely do his part to influence the direction the company will take in the esports scene.
Team Liquid have won the largest esports event for Dota 2, The International (TI), in 2017. They are also consistently in the NA LCS for League of Legends and have just recently won their first League of Legends title. Team Liquid also partook in the MSI (Mid-Season Invitational) for League of Legends but did not make it out of the group stage, finishing fifth.
Team Liquid itself pays a $10 million franchise fee over the next few years due to its inclusion into the NA LCS and the $25 million investment should allow the organization to take care of the expense without making any sacrifices.
Interestingly enough, the Golden State Warriors are also going to be in the LCS and are already undertaking the franchising process since the previous year.
Other esport giants Team Solomid and Cloud 9 have also curiously secured $25 million investments.