TORONTO / STOCKHOLM May 27th, 2019 – Amuka Ventures announced that it has acquired a 20% stake in Dragonborn Esport, one of Sweden’s top teams in Counterstrike (CS:GO). Dragonborn is also in the final stages of signing their first League of Legends team, which will begin competition this summer.
According to team manager Cecilia Bjorck, “Having an investor and partner like Amuka Ventures will help us execute on our strategy to grow the team domestically here in Sweden and look to expand into new titles and new markets.”
With a population of just over 10 million, Sweden has become a global esports leader. Many of the top players in CS:GO hail from Sweden, including Patrick“f0rest” Lindberg and Zainab“zAAz” Turkie.
The country is also host to many ‘prime-time’ events organized by the Swedish company Dreamhack. While they produce events across the world, they still host major events in the summer and winter in Sweden.
According to Ben Feferman, CEO of Toronto based Amuka Ventures, adding Dragonborn to their growing portfolio was a natural fit.
“What most impressed us with Dragonborn was the management team. It was immediately apparent that Ms. Bjorck had a completely unique vision for this team and has put everything she has into making it a premiere team in Sweden. We feel we can help build on that success and help take the team to new levels.”
Aaron Meckler, Chief Investment Officer of Amuka Ventures felt that teams will make up a strong foundation in the esports ecosystem but valuations needed to reflect their potential. “A lot of teams, especially in the U.S are valued at extremely high levels relative to their forward looking revenue and we felt it was hard to justify for our investors. Teams in Canada, and especially in Europe offer much of the same upside, with valuations at a significant discount to their U.S counterparts.”
Founded in 2017, Dragonborn Esport is based in Stockholm, Sweden They currently field both a CSGO main team and academy team and are now fielding a new League of Legends team. Both teams will be competing in league and tournament play starting in summer 2019.
About Amuka Ventures
Toronto based VC and advisory firm founded by Ben Feferman and Aaron Meckler. Amuka Ventures focuses on high growth opportunities in fintech, AI, esports, cannabis, propTech and cleanTech
For more information, please contact:
Cecilia Bjorck, CEO
P: +46 763 09 60 90
Ben Feferman, CEO
Amuka Ventures is a VC transaction and advisory firm and does not offer or solicit securities and is not a registered broker-dealer. To the extent Dragonborn requires financing to fund their growth, they will be engaging investment banking firms across North America, including Amuka Capital Corp (related entity to Amuka Ventures. Amuka Capital Corp is registered as an exempt market dealer in ON, BC and AB, NRD #62220. For more information, please email [email protected]