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Atlanta Esports Ventures

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Atlanta Esports Ventures
Company typePrivately Held Company
IndustryPrivate equity
Founded2018
Headquarters
Atlanta, Georgia
,
U.S.
Key people
Paul Hamilton, President and CEO
ProductsVenture capital
Owners
Subsidiaries
WebsiteOfficial website

Atlanta Esports Ventures (AEV) is an American venture capital firm. AEV is a partnership between Cox Enterprises and Province, Inc. The firm has investments in two Atlanta-based esports teams in the Atlanta Reign of the Overwatch League and the Atlanta FaZe for the Call of Duty League.

History

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Atlanta Esports Ventures was founded in 2018 as a partnership between Cox Enterprises, a global conglomerate headquartered in Atlanta, Georgia, and Province Inc., a financial advisory firm based in Las Vegas, Nevada. Paul Hamilton was selected as the company's president and CEO due to his values and history working with Cox.[1]

Investments

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Atlanta Reign

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Main article: Atlanta Reign

On August 2, 2018, it was announced that Atlanta Esports Ventures purchased one of Activision Blizzard's expansion slots in the Overwatch League at an estimated $30 million to $60 million.[2][3] Activision Blizzard had been expecting to sell Atlanta one of the expansion slots, as president and CEO of Activision Blizzard Esports Leagues Pete Vlastlica noted, "We always had our eye on [Atlanta], from the beginning. It [was] just a matter of when."[2] The team, Atlanta Reign, became the first esports team to officially represent the city of Atlanta.[4]

In October 2019, AEV purchased a property for the Atlanta Reign in Atlanta to act as its headquarters for a reported US$2.27 million.[5]

Atlanta FaZe

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Main article: Atlanta FaZe

On May 2, 2019, Activision Blizzard announced that AEV had purchased one of the first five franchise slots for the Call of Duty League. According to ESPN, the publisher was looking to sell slots for approximately $25 million per team.[6] "We have the opportunity to—once again—play a pivotal role in Atlanta's diverse esports community by bringing the future of Call of Duty esports to the city," said Hamilton in a release at the time.[7] AEV and FaZe Clan partnered together for the team, and in October 2019, they announced that the team would be named the Atlanta FaZe.[8]

References

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  1. ^ Miceli, Max (September 14, 2018). "The Birth of the Atlanta OWL Franchise, Part 1". The Esports Observer. Retrieved October 23, 2019.
  2. ^ a b Soderstrom, Alex (August 2, 2018). "Cox Enterprises backing new Atlanta esports team". The Atlanta Journal-Constitution. Retrieved March 16, 2019.
  3. ^ Wolf, Jacob (July 28, 2018). "Overwatch League sells Atlanta spot to group funded by Cox". ESPN. Retrieved March 16, 2019.
  4. ^ Reisigl, Joe (November 15, 2018). "Atlanta bought an Overwatch eSports team. Here's why you should care". Atlanta Magazine. Retrieved October 11, 2019.
  5. ^ Jackson, Eric (October 22, 2019). "Cox Enterprises buys esports facility for $2.27M". Atlanta Business Chronicle. Retrieved October 14, 2021.
  6. ^ Pei, Annie (May 2, 2019). "Activision Blizzard announces first 5 teams for Call of Duty esports league". CNBC. Retrieved October 23, 2019.
  7. ^ Shenke, Jarred (October 22, 2019). "Esports Team Owned By Cox Enterprises Buys Atlanta Property". Bisnow Atlanta. Retrieved October 23, 2019.
  8. ^ Duran, H.B. (October 28, 2019). "FaZe Clan, Atlanta Esports Ventures Reveal Call of Duty League Team, Atlanta FaZe". The Esports Observer. Retrieved October 29, 2019.
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