Bayes Esports has reached a new milestone, with the esports data provider’s latest fundraising round raising €9m in capital in 2022.
The capital fundraising forms part of a series A4 financing, led by PAC Capital, whose Chief Investment Officer, Clayton Larcombe, will replace Jens Hilgers as Chairman of the Board.
The capital injection will be used to fund new content partnership acquisitions and partnership extensions, as well as to expand the Berlin-headquartered company’s team with a number of “high-profile experts and talents from various different industries”.
Larcombe commented: “The future of sports is esports. Esports is growing at such an incredibly fast pace that businesses active in esports need to be fast, agile, and, most importantly, innovative. That is what I see in Bayes Esports. A truly innovative business with the power and the potential to lift the industry to new heights.
“Bayes is a significant investment in the fund and shows the commitment and belief of PAC to the esports/gaming sector. I hold close relationships with Jens and the entire BITKRAFT team, as well as with Martin and Amir at Bayes, and am very much looking forward to our journey together.”
Larcombe is currently the Chairman and lead investor of Picklebet and is also founder of PAC Capital, a global fund manager with over $500m under management.
PAC Capital’s investment in Bayes Esports comes from its first venture fund, the PAC Private 1. The fund, Larcombe noted, specialises in finding “the most innovative companies in the esports, gaming, and tech industry”.
Amir Mirzaee, CCO & MD of Bayes Esports, commented: “We are delighted to have found a strategic investor and true visionary in the field of esports in Mr. Larcombe, who shares our vision and will work with us to drive the esports industry forward.
“Being able to secure this investment during a time where investors have grown more and more hesitant is a clear indication to us that we are on the right track and that our message of an ecosystem built around official data is resonating with the industry’s decision makers.
“We have started out strong in 2023, but there are a lot more announcements yet to come. We will continue to expand our lead as the premier source for esports in-game data and bring truly game changing innovations to the industry.”