Team Fnatic Receives $7 Million Investment

Fnatic announced on its website Monday that it has received a $7 million financing round with a board of investors. The board includes James "Jim" Pallotta's Raptor Group Holdings, a group with ownership stakes in the NBA's Boston Celtics and the Italian Serie A's AS Roma. Additionally, the group which co-owns the Houston Astros, Hersh Interactive, is also involved in the funding round.

The organization has disclosed that it aims to pour its resources into developing its esports infrastructure, bolstering its squads with support staff such as coaches and sports psychologists, as well as developing academy teams, as has been the case in League of Legends in the 2017 spring season. The organization also seeks to 'continue advancing esports into mainstream culture' through its esports peripheral (through Fnatic Gear) and apparel lines.

Fnatic is at the forefront of advancing esports, constantly deploying innovative forms of engagement and monetization that we believe will transform the overall sports and entertainment industry over time.
— Chris Pallotta, Fnatic Director and Raptor Group Investment Officer