British EXCEL ESPORTS has concluded an investment round in the value of €20m (~£17m) to finance the expansion and new headquarters of the company.
Investment firm JRJ Group conducted the round, first reported by Sky News. In 2018, TOMS Capital LLC purchased its majority interest in EXCEL.
The cash will be used to help the organisation enhance the infrastructure in accordance with a release released by EXCEL ESPORTS, including its London headquarters, the initiation of 'operations in new regions,' and the development of its XL.gg digital platform.
The new investors also became IPGL Ltd, Michael Spencer's family office, Alan Howard's family office and the worldwide private equity company TNF Investments.
This summer is scheduled to start with EXCEL headquarters in Shoreditch, London. The HQ is expected to become a "central centre" for the business of the organisation and is used in the development of talent and content streams and in partner and media events. Moreover, the facility is also used by the departments of EXCEL.
Wouter Sleijffers, Chief Executive Officer of EXCEL, commented: "I really look forward to the next chapter with our investors, building on the legacy of EXCEL and achieving our sharing vision of the future of sports and gaming. EXCEL has been gathering considerable assistance from investors, our partners, our Ambassador Dele Alli and every other talent in and outside the UK within a very short time.
"Now, we are in place with all the elements to aspire for more from the UK household name to an internationally recognised and various UK brand, capable of deriving maximum value from continued expansion in the UK industry and increased digitalisation of consumer behaviour."
For the esports organisation, 2021 was a demanding year. EXCEL has established agreements over the past six months, including with AndaSeat, Sony and Eleiko. In addition the organisation, Fortnite and VALORANT were competitors.