Lev Leviev, a prominent Russian-Israeli tech investor, has led a $19 million for London-based eSports club Fnatic via his fund LVL1 Group. Investors Beringea, BlackPine, Unbound, Raptor Group and Joi Ito also took part in the round.
The fresh funding will help Fnatic “continue its global expansion into Asia and North America, strengthen its involvement in tier-one leagues including the League of Legends European Championship, continue to partner with the most forward-thinking global brands and launch new product categories of its Fnatic Gear gaming peripherals including an exciting new audio line,” the company stated.
“Esports is the future of entertainment as well as one of the most dynamic and exciting emerging industries out there,” said Leviev in a separate statement cited by VentureBeat.
The investor sees in Fnatic “a driving force both on the competitive stage and as a global business in esports” on the way to “scale into a global lifestyle brand.”
Born in Vologda, Russia in 1984, Leviev co-founded VKontakte (VK), Russia’s leading social network, data center Selectel and blockchain data analytics BlockTrail. Since 2011, he has actively invested in Russian tech companies, both as an individual investor and through the Vaizra Capital fund.
