Glisco Partners, a leading growth equity investment firm for disruptive and cross-border high-growth companies, and Heart Beat, an investment manager focused on the Americas, announced the closing of a $12.4 million investment in GGTech Entertainment. GGTech is a leader in the gaming and esports environment and one of the main organisers of esports events and competitions worldwide, which has experienced exponential growth in recent years. The objective of this investment is to help GGTech consolidate its presence in the Middle East & North Africa (MENA), Europe, and Latin America, as well as to accelerate its entry into the US market, one of the largest gaming and esports markets in the world.
In MENA, GGTech (through MENATech) develops Amazon UNIVERSITY Esports. It is a project present in 16 countries on 4 continents, which seeks to integrate the recreational and competitive aspects of video games with educational activities. Each of these countries offers workshops presented by professionals in the esports industry to university students interested in learning more about the industry.
José Parrilla, co-founder and CEO of GGTech Entertainment: “As the leading organiser of multi-language esports events and tournaments in MENA, Europe, and Latin America, we are very confident about our growth prospects in the US. Video games, and esports in particular, have been growing in popularity year after year, especially in the US, where more than half of the US population plays games on a regular basis. Moreover, according to various studies by international consulting firms, this trend is expected to consolidate and even increase over the next decade. Our goal is for GGTech to participate in this trend and strengthen its presence in these markets over the next few years. To this end, we also have the support of major brands and publishers, with whom we already have solid alliances, to contribute to growth in the US market. We will also be looking for investment opportunities in the sector.”
Commenting on the investment, Alfredo Castellanos, Managing Partner at Glisco Partners, said: “Our investment in GGTech is part of our strategy to help highly disruptive companies grow their market share and enter the US market. GGTech is particularly attractive because of its proven business model and strategy to leverage its content production studios in Mexico and Spain to serve the growing esports market in the US.”
