Mentioned in this article
- Esports organization Pittsburgh Knights has raised an investment from Esports MX LATAM Fund, a group of Mexico-based investors and family offices.
- Investment proceeds will be used to carry out the Knights’ current business strategies including global expansion and joint ventures.
- Esports MX LATAM and the Knights are partnering to set up an affiliated esports team organization in Mexico.
Following the announcement of a strategic partnership with Pittsburgh-resident and rapper Cameron “Wiz Khalifa” Thomaz in July, NFL’s Pittsburgh Steelers-backed esports organization Pittsburgh Knights raised an investment from Esports MX LATAM Fund, a group of Mexico-based investors and family offices in media, entertainment, finance, and other industries. Financial details of the transaction were not disclosed.
Proceeds from the investment will be used to carry out the Knights’ current business strategies including global expansion and joint ventures. Partnering with Esports MX LATAM the organization will set up an affiliate esports team organization in Mexico using the framework of the Knights’ organizational and operational model. The joint team’s name is already decided and will be announced at a later date.
Esports MX LATAM’s purpose is to invest and work with international esports organizations and companies to create and expand esports opportunities in Mexico and Spanish-speaking Latin American markets through co-investments, partnerships, and joint ventures.
The general partners of the fund include Han Park, former President of ESL America; Richard Jun, Managing Partner of Bam Ventures; Mark Alazaraki, CEO of Alazaraki Networks; Allan Kaye Trueba and Luis Alberto Aziz, General Partners of Aziz & Kaye; Sergio del Valle, Managing Partner of Canvas Partners; and Luis Ahumada and Kevin Park, Founding Partners of Docent Capital.
Pittsburgh Knights’ President James O’Connor has known Han Park, general partner of Esports MX LATAM, since the early days of esports – specifically the early days of Web2zone, a cyber and gaming center in New York. Han has been in gaming and esports for over 15 years, having served as president of ESL America, and was part of the executive team that built ESL’s presence in the United States.
“There is a strong strategic alignment with the Esports MX LATAM Fund’s vision and our investment group’s plans,” said Knight’s President James O’Connor in a release. “Partnering with Han and his investment partners in Mexico is another great step for the Knights as we grow our global footprint. We see the same dedication, loyalty, and zeal for sports there that we do in Pittsburgh. Mexico has a lot to offer in terms of talent and logistics that make this venture an ideal opportunity to build something special for both Mexican and global esports.”
Earlier this month, Mexican multimedia conglomerate TV Azteca strengthened its footprint in esports by investing in NASDAQ-listed esports venue owner Allied Esports Entertainment (AESE). Preceding the investment was a collaboration between Allied and TV Azteca in organizing a PLAYERUNKOWN’S BATTLEGROUNDS tournament called NATION VS NATION featuring North American and Mexican teams.
In July 2018, esports organization OpTic Gaming, which was recently acquired by Immortals Gaming Club, entered the Mexican esports market by picking up a second roster for the game Gears of War consisting of Mexican players. The organization parted ways with the regional team in November of the same year.
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