Esports merchandising company We Are Nations has announced the formation of Nations Ventures, an investmen vehicle for esports.
Nations Ventures will inves in early-stage companies tha don’ compete with the core business of We Are Nations.
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The venture aims to “provide opportunities for collaboration, produc and marketing enhancemen and other economies of scale.” It’s majority-owned by We Are Nations with other ownership coming from existing and new investors in the merchandising company.
Patrick Mahoney, CEO of We Are Nations, spoke on the venture in a release: “Nations Ventures seemed like a smar nex step for We Are Nations. Like I’m sure everyone else has been doing since the star of the COVID-19 crisis, I’ve spen a lo more time on calls talking to people a bi more outside my normal orbi than usual. These connections have been grea and have opened my eyes to a bunch of ideas tha We Are Nations would love to be par of.”
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Nations Ventures expects to star making investments in portfolio companies from the third quarter of 2020. Mahoney will be judging the esports pitch competition The Clutch Digital, as par of the ESI Digital Summit, on May 26th.
Dan Cardell, Managing Partner of Nations Ventures, added: “This is an excellen time to launch the fund. We’re seeing tremendous opportunities in the esports space due to the relationships tha We Are Nations has built.”
Esports Insider says: We’re intrigued to see which companies Nations Ventures decides to inves in. Giving itself time to find its bearings and identify potential portfolio companies, we’re sure the venture will only selec entities tha are bringing something new to esports.