The Post reported, on May 30 that the Los Angeles-based team of professional gamers was looking to raise $25 million, and reported last week that the funding round was oversubscribed.
100 Thieves is now valued at more than $125 million. That’s up nearly 40 percent from the $90 million it was reportedly valued at in October, when it attracted investors including Scooter Braun, Marc Benioff and Cleveland Cavaliers owner Dan Gilbert.
Artist Capital Management has led the most recent, $35 million round. There is also a new investment from Aglaé Ventures, the technology investment firm of Groupe Arnault, the controlling shareholder of Louis Vuitton Moet Hennessy.
100 Thieves Founder and CEO Matthew “Nadeshot” Haag said he plans to use the cash to aggressively expand in competitive esports.
Haag wants to register in a new Activision “Call of Duty” esports league that launches next year and has a roughly $25 million initiation fee.