EXCEL ESPORTS raises $23.4 million financing round – ARCHIVE
British esports organization EXCEL ESPORTS announced that it has completed a £17 million GBP ($23.4 million USD) financing round led by investment firm JRJ Group, which first acquired a majority shareholding in 2018 alongside TOMS Capital, the family office of Noam Gottesman. Further investors that participated in the round included IPGL (the family office of Michael Spencer), the family office of Alan Howard, and the international private equity firm TNF Investments.
EXCEL revealed that it will use the investment proceeds to continue growing its talent lineup and expanding into more esports titles. Additionally, the organization “will further bolster its infrastructure, launching its operations into new territories and developing their digital platform XL.gg to become an innovative destination for the community.”
Furthermore, EXCEL announced that it will open its new headquarters in Shoreditch, London this Summer. The new headquarter will be home to the organization’s workforce and will be used for talent streams, content production and community, partner, and media events. In addition, EXCEL will continue to operate its training facilities in the Twickenham Stadium and Berlin.
As part of the announcement, EXCEL also shared that its “revenues more than tripled in 2020 following their first year in the League of Legends European Championship (LEC).”