AXiomatic, the parent company of Team Liquid, has raised $25 million in a Series B funding round led by Golden State Warriors executive board member Bruce Karsh, according to a report by ESPN.
The round includes investments from aXiomatic board members Ted Leonsis, owner of Washington Wizards, Peter Guber, co-owner of Warriors, and Jeff Viniki, owner of Tampa Bay Lightning.
“I am delighted to team up again with my Golden State Warriors’ partner, Peter Guber, whom I consider to be a visionary in the sports and entertainment worlds,” Karsh said in a press release. “With the skilful guidance of my partners and our co-founder and CEO Bruce Stein, I expect aXiomatic and Team Liquid to enjoy a fantastic future.”
Karsh has now joined aXiomatic’s board as a result of the large investment.
AXiomatic has a controlling stake in Team Liquid, who won the Dota 2 International in 2017 and more recently won their first League of Legends title in the new-look NA LCS. The team recently took part in the Mid-Season Invitational. They finished fifth in the Group Stage, missing out on the knockout round after a loss to Fnatic in the final tiebreaker of the stage.
As part of their inclusion in the NA LCS, Team Liquid is required to pay a $10 million franchise fee over the next few years. The investment could go someway to help the organization pay back that money as well as allow the organization to invest in other esport titles in the future.
The Golden State Warriors are of course directly involved in the LCS. The Golden Guardians joined the league through the franchising process last year.