Bayes Esports secures new funding from Australian asset management firm PAC Capital
Esports data supplier Bayes Esports has secured a new investment from Australian esports-focused fund PAC Capital.
The investment, part of a series of A4 financing led by PAC, brought the total capital raised by Bayes in 2022 to €9m.
PAC Capital is a global fund manager with more than $500m under management. It is primarily focused on the esports, gaming and technology industries.
The fund is led by chief investment officer Clayton Larcombe, who is “one of Australia’s most influential esports businessmen” according to Bayes. Larcombe is now set to replace the Bayes founder Jens Hilger as chairman of the firm’s board.
Larcombe said: “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.
PAC Capital chief investment officer Clayton Larcombe: “Bayes is a significant investment in the fund and shows the commitment and belief of PAC to the esports/gaming sector.”
“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.”
Bayes said it will use the investment to fund recent content partnership acquisitions and partnership extensions, while expanding its team and management by bringing in more high-profile experts and talent from various industries.
The firm recently announced a two-year exclusive live match data partnership with Counter Strike event organiser BLAST, as well as the appointment of former EMEA business lead for customer programmes at Google, York Scheunemann, as COO.
“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,” commented Bayes CCO and managing director Amir Mirzaee.
“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 gamechanging innovations to the industry.”