Beringea invests in $19m series-A for Fnatic

The round was led by LVL1 Group, the holding company of tech entrepreneur Lev Leviev. BlackPine, Unbound and Joi Ito also took part in the round.

The fresh capital will be used to support Fnatic's participation in global esports leagues and launch new product lines in esports equipment.

Fnatic simultaneously announced the appointment of former Mercedes AMG F1 CEO Nicky Fry as chairman.

Previous funding
A group of private investors injected $7m into a venture round for Fnatic in 2017.

Company
Fnatic is headquartered in London and was founded in 2004. It is an esports organisation with professional gaming teams playing titles such as Counter Strike, League of Legends, Dota and Fortnite. It has additional operations in Berlin, Belgrade, Los Angeles, Taipei, Shenzhen and Kuala Lumpur.

People
Beringea – Karen McCormick (chief investment officer).
Fnatic – Sam Matthews (CEO).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• Venture
• United Kingdom