Guinevere Capital And Cloud9 Enter Strategic Partnership
Sports and esports investment and advisory firm, Guinevere Capital, and US-based esports team, Cloud9, have announced a strategic partnership centred around a Cloud9 subsidiary, Kings Row LLC.
The partnership will aim to increase Overwatch League team, London Spitfire and Overwatch Contenders team, British Hurricane’s connection to the UK and Europe with Guinevere Capital set to focus on commercial opportunities and ensuring the success of live Homestand events in 2021.
Cloud9 president, Dan Fiden, said the partnership will demonstrate Cloud9’s dedication to the UK esports fanbase and commitment to building a best in class business around Spitfire.
“When Cloud9 made the decision to invest in Overwatch League, we knew taking on live events, marketing, and commercial operations in the UK would be a challenge,” Fiden said.
“When we connected with the team at Guinevere, their backgrounds in traditional sports, media, and esports in Europe, this convinced us that they’d be the right partner to build the business with.
“Local support will ensure the team grows from a commercial and community standpoint.
“The city-team process has been very successful in generating local fan bases that go beyond esports.
“It’s important for us to work with a partner that understands the city-based structure and how to maximize the potential this can offer.
“For London Spitfire to develop strong connections to fans and partners having local support is vital,” he said.
Guinevere Capital managing director, David Harris, said the partnership between Guinevere Capital and Cloud9 will target the “still under-developed” UK esports market.
“There is huge potential in the UK esports scene which is still under-developed when you compare it to the rest of the world,” Harris said.
“For Guinevere, the opportunity to work with London Spitfire will allow us to work across two major British brands, cementing ourselves within the region.
“My background is in traditional sports which has a great deal of synergy with the vision behind city-based esports teams and structures.
“My ambition is to help develop the UK and European esports ecosystem and to help organisations such as London Spitfire and British Hurricane, two immensely talented teams, stand out from the crowd, have their voice heard amongst the community and to gain the attention of brand partners,” he said.
As part of the deal, Australian-based sports, entertainment, and esports law firm, Game Legal, advised Guinevere Capital on the partnership, further aiding on Guinevere’s international expansion into the UK and Europe.