Coming as a surprise to many, Nordisk Films and Parken Sport & Entertainment decided to cease operations of the Danish esports organisation North on Friday, February 5th.
Nordisk and PS&E also own FC Copenhagen, and cited ‘strategic focus’ in a release as the reason for shutting North down. In a DBLTAP article published in November, it was reported that North CEO Christopher Håkonsson had stepped down, and that the org was seeking additional funding.
Given this, it seems North’s parent companies were unable to find co-investors to fund North’s future, despite North being an established brand in CS:GO and also having fielded teams in FIFA and Apex Legends. This raises the question of what investors are looking for in esports organisations, and whether fundraising has become more difficult for esports orgs in 2021.
Related: Danish esports org North shutters
In this piece, Esports Insider uses the expertise of two investors to explore investor sentiment towards esports orgs in 2021, and how it has changed in recent years. These investors are Joey Brander, President and Managing Partner at First Serve Partners, who has invested in Overactive Media and Splyce, and David Martin, Investor and Advisor at Esports Global and Co-owner of London Royal Ravens.