Team Liquid stakeholder aXiomatic receives $25,000,000 investment

first_imgaXiomatic, an ownership group that acquired a controlling stake in Team Liquid in September 2016, has brought in $25,000,000 (£18,777,875) in a Series B investment funding round led by Golden State Warriors’ executive board member Bruce Karsh.First reported by ESPN, this investment was discovered via an April document filed with the Securities and Exchange Commission.The round included investment from current, existing board members of aXiomatic; including Ted Leonsis, Owner of Washington Wizards, Peter Guber, Co-Owner of Golden State Warriors, and Jeff Vinik, Owner of Tampa Bay Lightning. Vernon & Park Capital, a private equity capital firm, also invested into the group.As part of this investment, Karsh has joined the board of aXiomatic. Originally the co-founder of Oaktree Capital Management, which he launched in 1995, Karsh has plenty of experience in investment and adds a wealth of knowledge to the board.Karsh discussed the investment in a media release: “I am delighted to team up again with my Golden State Warriors’ partner, Peter Guber, whom I consider to be a visionary in the sports and entertainment worlds. And the opportunity to become partners with Ted Leonsis and Jeff Vinik, two other highly accomplished sports, entertainment and financial wizards, was an equally compelling consideration. With the skilful guidance of my partners and our co-founder and CEO Bruce Stein, I expect aXiomatic and Team Liquid to enjoy a fantastic future.”As well as having a majority stake in Team Liquid, aXiomatic has shares in esports tournament organiser, Super League Gaming.Esports Insider says: Team Liquid is performing well in a number of titles and continues to grow, so there’s no surprise that its parent company has received such a sizable investment. It’s a good sign that existing investors have increased their contribution, too.last_img read more

West Covina a hot spot for wireless connection

first_imgWEST COVINA – From South Bend to San Francisco, cities nationwide are tapping into wireless Internet access for their residents and creating hot spots in coffee shops, restaurants and libraries. West Covina may soon join that growing list. The City Council asked staff to come back with a feasibility report on how much it would cost to install wireless hot spots in businesses and city-owned centers, such as the Cameron Community Center and the Senior Center. “A number of cities are operating wireless Internet service,” said Councilman Mike Touhey. “It’s something I think would be a unique opportunity to partner up with a vendor.” Hot spots are places that provide public wireless broadband network services. They are often located in heavily populated areas. West Covina already offers wireless access in Starbucks coffee shops, but the study will focus on making it more accessible throughout the city. Covina has access in its downtown area. “It’s working out wonderfully,” said Covina Councilman John King. “It’s been a really neat addition to our downtown area, giving visitors and citizens a great option to sit in a coffee shop, restaurant, shops and the library and be able to access the Internet.” In operation for about four months, the wireless access costs the city more than $47,000 a year and covers about 22 blocks in the downtown area. [email protected] (626) 962-8811, Ext. 2472 AD Quality Auto 360p 720p 1080p Top articles1/5READ MORECoach Doc Rivers a “fan” from way back of Jazz’s Jordan Clarkson160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more