August saw a number of strategic investments in the esports industry. Five teams raised additional funds to scale their businesses including STILL8’s $4.5M USD investment and former NBA player Kevin Garnett backing Triumph Esports. Allied Esports Entertainment finally closed the business combination first announced in December 2018. BITKRAFT Esports Ventures led two more investment rounds to get their esports investment count up to seven for the year so far. Millennial Esports cemented its global restructure and refocus on esports racing by acquiring motorsport simulator manufacturer Allinsports and raising investments from former Formula 1 drivers.
During the month of August, The Esports Observer tracked $35.25M in disclosed investments excluding the business combination of Allied Esports Entertainment. Financial terms were not disclosed for all deals highlighted in this article.