Esports Brand Fnatic raises $19M in Series A, plans Asia entry

Global esports brand Fnatic has raised $19 million in Series A funding from tech entrepreneur Lev Leviev of LVL1 Group. The funding round was also supported by investors including transatlantic VC firm Beringea, BlackPine, Unbound and Joi Ito.

The company plans to use the new funding to structure and for further expansion into Asia and North America. Fnatic will continue to partner with the most forward-thinking global brands and to position itself as the leading lifestyle esports organisation globally.

This funding will help Fnatic scale up its business, strengthen involvement in tier-one leagues, including the League of Legends European Championships. The firm also plans to launch new product categories in its esports equipment subsidiary including a new audio line, as well as scaling up resources to deliver and deploy marketing efforts and reach for brands on an international scale.

Former Mercedes AMG F1 Chief Executive Officer (CEO) Nick Fry is named Chairman, serial entrepreneur and founder of Affectv Glen Calvert is appointed COO and Fnatic’s founder, Sam Mathews, set to retake the CEO position to support the company's growth.

“Esports is the future of entertainment as well as one of the most dynamic and exciting emerging industries out there. Fnatic has established itself as a driving force both on the competitive stage and as a global business in esports, I’m excited to be part of the next chapter as Fnatic scales into a global lifestyle brand.” said lead investor Lev Leviev

“This is a pivotal moment in the evolution of Fnatic. I am incredibly proud of what we’ve achieved over the past 15 years and now is the time to build on this strong foundation to realize our vision of being the leading global esports brand. To have such high caliber investors is telling of the potential they see in Fnatic and our future,” added new CEO, Sam Mathews.