A round-up of Esports investments, mergers, and acquisitions in February 2020

As the esports industry continues to grow, so does the interest in owning a piece of the pie. Celebrities and venture capitalists are investing millions of pounds, companies are merging together to consolidate, and acquisitions are becoming pretty common, too.

To make things easier, Esports Insider has brought together the major investments, mergers, and acquisitions of February 2020.

FaZe Clan receives $22.7 million loan facility

North American organisation FaZe Clan entered into a $22.7 million (£17.4 million) convertible loan facility.

Canaccord Genuity acted as the exclusive financial adviser to the organisation for the deal, which is said to be convertible at a pre-money equity valuation of $220 million (£168.7 million) and will be used as “working capital and general corporate purposes.”

Read the full article here.

NTT Corp raises £2.1M to open esports venue in Japan

Nippon Telegraph and Telephone Corporation (NTT Corp) announced intentions to launch an esports venue in Japan through four of its subsidiaries.

NTT East Corp, NTT West Corp, NTT Advertising Inc, and NTT Urban Solutions – in collaboration with its partners Sky Perfect JSAT Corp and Taito Corp – raised a total of JPY 300 million (£2.1 million) in funding for the project.

Read the full article here.

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Original Source (https://esportsinsider.com/2020/03/investments-mergers-acquisitions-february-2020/)