The geographic breakdown of the investors in this space is not very surprising.
The bulk of the investors are in California, followed by New York and Europe. I did expect more to be in Asia, as a large percentage of the eSports market exists in China, South Korea, Japan, etc.
The headline number of 352 total investors in the space makes it seem like everyone is piling into eSports startups, and at times, it does feel like some of the rounds I’m seeing are oversubscribed, and/or competitive.
However, I still believe the space is somewhat opportunistic for investors at this time (especially at the earlier stages, and certainly for those with some domain knowledge) due to a lack of institutional investors who are investing regularly in the space.
WHO ARE THE MOST ACTIVE VC'S IN ESPORTS
Of the 54 investors who have more than one eSports investment, 39 of those are VC's (15 are angel or strategic investors).
I’ve listed the VCs who are active - have invested in more than one eSports startup - here as a resource for founders and whoever may be interested. If I’m missing someone, please let me know and I’ll update the list.
In addition to the most active VCs that I’ve listed below, I've also compiled a Crunchbase list of all the investors in eSports startups with profiles (link)
A list of a few representative portfolio companies showing eSports exposure, is listed next to each VC’s name below. The list of investments is not intended to be inclusive of every deal in the space by each investor, rather a representative sample:
- Accel Partners (Raptr, smash.gg, Discord)
- Advancit Capital (Unikrn, Blitz Esports, Sliver.tv)
- Amplify.LA (Battlefy, AlphaDraft)
- Arab Angel Fund (Battlefy, Wonder)
- BDC IT Venture Capital (Battlefy, Repable)
- BITKRAFT (Kek, Boom.tv, Runtime.gg)
- BLH Venture Partners (KontrolFreek, Haste, Wavedash)
- BoxGroup (Scopely, Blitz Esports)
- CAA Ventures (Vulcun, Sliver.tv, Kickback)
- Courtside (FanAI, GameCo)
- CRCM Ventures (TurningSense, FanAI, VREAL)
- Creandum (RFRSH, Armada Interactive, Resolution, Playraven, Small Giant, Future Play)
- Crosscut Ventures (Vulcun, Super Evil Megacorp, Blitz Esports)
- Deep Space Ventures (Mobalytics, PlayVS, Haste, Battlefy)
- First Round (Boom.tv, BeyondGames, Mobcrush)
- General Catalyst (Mobalytics, Super Evil Megacorp)
- GGV Capital (Mobalytics, Curse)
- Greycroft (Scopely, Gunslinger Studios, AlphaDraft, FanAI, Sliver.tv)
- IDG Capital Partners (AlphaDraft, Discord)
- Index Ventures (FaceIT, Super Evil Megacorp, Discord)
- K Cube Ventures (Kokomo Games, Supreme Games)
- London Venture Partners (Dojo Madness, Future Play Games)
- Ludlow Ventures (Vulcun, Kickback)
- Machine Shop Ventures (Wavedash Games, Immortals)
- March Capital Partners (Genvid, Wavedash Games, Dojo Madness)
- MIT Play Labs (Esports One, Savvy Stat, Total Respawn)
- QB1 Ventures (FanAI, Gameco)
- Queensbridge Venture Partners (AlphaDraft, Battlefy, Kickback)
- Raine Ventures (Dojo Madness, Super Evil Megacorp)
- Right Side Capital Management (GameWisp, Sidelines, Matcherino)
- Rosecliff Ventures (YouStake, FanAI)
- Sequoia Capital (Vulcun, 5211game, Skillz)
- Signia Venture Partners (Super Evil Megacorp, Funzio, Playdom, Drifter)
- Social Starts (Battlefy, Youstake, Sidelines)
- Spark Capital (Discord, Smash.gg)
- Sterling VC (Loot Crate, FanAI, Skillz)
- The Kraft Group (Skillz, Overwatch League)
- Third Wave Digital (Battlefy, Gunslinger Studios)
- Upfront Ventures (Loot Crate, AlphaDraft, VREAL)
I have worked with many VCs who are looking actively at early and late stage rounds in eSports businesses on a daily basis. More and more investors will end up on the list in the coming months and years.
This list will be actively updated here on my Medium page.