Esports firm ReKTGlobal announces £27m funding from Summit Partners
ReKTGlobal, a global esports firm and parent company of pro esports organisations Rogue and London Royal Ravens, today announced a £27m debt capital raise from Summit Partners.
Amish Shah, co-founder of ReKTGlobal said: “We are thrilled to announce this news and look forward to a long-term partnership with Summit Partners. We believe our dedicated teams and strategic partnerships separate us from other esports organizations, and we couldn’t be more proud to welcome Summit Partners as our debt capital partner.”
Founded in 1984, Summit Partners currently manages more than £16bn in assets dedicated to growth equity, venture capital, fixed income and public equity opportunities. The Summit credit team seeks to capitalise on the firm’s resources and broad network, focusing on proactively identifying middle-market companies with records of positive financial performance, strong leadership and business models characterized by stable and predictable cash generation.
Dave Bialek, CEO of ReKTGlobal said: “ReKTGlobal is one of the very few esports companies to have reached profitability. With a dedicated team and organisation, we believe we are strongly positioned to build on this momentum as we work with Summit to scale the business globally.”
Summit Partners’ investment will help support the expansion of ReKTGlobal’s product portfolio, monetise assets and assist with the acceleration of the company’s international growth through key executive hiring across its owned and operated companies. With its strong history of delivering acquired and organic growth, ReKTGlobal will also utilise this capital to support additional acquisitions within the esports, gaming and entertainment space.
Founded by Amish Shah and Dave Bialek in 2017, ReKTGlobal channels its experience in sports, media and entertainment to provide services for the esports ecosystem that include event management, agency solutions and media support.
The company’s all-in-one vision extends to its recent acquisitions of full-service data-driven media agency Fearless Media, marketing services company Greenlit Content, and leading fan engagement platform Fullcube. Together with creator management phenom TalentX, ReKTGlobal recently launched TalentX Gaming, a fast-growing talent management company specifically built for gaming and esports athletes and streamers.
eKTGlobal also owns and operates the London Royal Ravens in the Call of Duty League and is the owner of Team Rogue, the LEC Franchise that is currently competing at the League of Legends World Championship in Shanghai. The esports organisation has inked sponsorship deals with State Farm, Kia and Scuf Gaming, among others.
Adam Britt, Managing Director at Summit Partners commented: “We believe ReKTGlobal is well-positioned to continue delivering strong, profitable growth. Co-founders Amish Shah and Dave Bialek have an exciting vision for this business – one that we believe bridges the gap between the music, entertainment, sports, apparel and gaming industries – and we look forward to being a partner in that growth.”
Additional ReKTGlobal investors include EDM legend Steve Aoki, international producer and DJ Nicky Romero, Grammy-winning rock band Imagine Dragons, Latin record producer and songwriter Tainy, two-time NBA defensive player of the year Rudy Gobert, pro tennis player Taylor Fritz, NFL strong safety Landon Collins, Find Your Grind CEO Nick Gross and hip-hop music executive and CEO Anthony “Top Dawg” Tiffith. ReKTGlobal currently has offices in New York, L.A., Las Vegas, Charlotte, London and Berlin.