Australian PE Firm Buys eSports Team LG Dire Wolves

AUSTRALIAN PE FIRM BUYS ESPORTS TEAM LG DIRE WOLVES

Guinevere Capital Buys Controlling Stake In LG Dire Wolves (Photo: Guinevere Capital)

TNL Take: Now that the influx of eSports and Pro Team's investments have started, this is only just the beginning across a multitude of sectors.

Australia joined the eSports Investment party last week when Melbourne based Private Equity firm Guinevere Capital bought a controlling stake in local team LG Dire Wolves.

This investment is a bit curious though.

LG Dire Wolves aren't that big and tiny compared to the likes of Dignitas (76ers) and Team Liquid (aXiomatic). They currently only have a League of Legends team with some previous experience with Smite.

The team did recently sign a deal with LG Electronics hence the name.

LG Australia Signs Dire Wolves (Photo: LG Dire Wolves)

There's also very little info on Guinevere Capital - the website just has their logo.

Guinevere's Managing Director David Harris has a traditional Sports background in Cricket, Rugby and Football.

My guess as to why LG Dire Wolves? Local and inexpensive.

LG Dire Wolves joins other eSports teams like Immortals and Team EnVyUs with VC/PE investment.