The merchandising company will invest in startups and early-stage companies
As the eSports industry continues growing steadily, side businesses are bringing new ideas and innovation to the industry. There are reportedly billions of dollars to be had in the space and many companies need financial assistance to get started. To help, eSports merchandising company We Are Nations has announced the creation of a new investment fund, Nations Ventures, for eSports companies designed to invest in early-stage companies as long as they don’t compete with core businesses run by the company.
According to We Are Nations, it wants to “provide opportunities for collaboration, product and marketing enhancement and other economies of scale.” Although the main entity of this new venture is We Are Nations, there are other owners coming from existing and new investors in the merchandising company. CEO of We Are Nations Patrick Mahoney spoke about this new idea in a press release, stating, “Nations Ventures seemed like a smart next step for We Are Nations. Like I’m sure everyone else has been doing since the start of the COVID-19 crisis, I’ve spent a lot more time on calls talking to people a bit more outside my normal orbit than usual. These connections have been great and have opened my eyes to a bunch of ideas that We Are Nations would love to be part of.” Mahoney will be one of the judges in the esports pitch competition The Clutch Digital, which will take place as part of the ESI Digital Summit today.
The goal is for Nations Ventures to be ready to start investing in eSports companies as of the third quarter of 2020. “This is an excellent time to launch the fund. We’re seeing tremendous opportunities in the esports space due to the relationships that We Are Nations has built,” added Managing Partner of Nations Ventures Dan Cardell.