Yorkshire tech company Semper Fortis Esports PLC has successfully started trading on the Aquis Stock Exchange Growth Market after an oversubscribed fundraising.
The Sheffield esports company, which is focused on establishing esports teams, forming brand and technology partnerships and providing business to business advisory services, announced its first day of dealings having raised around £2.5m through a placing and subscription.
The fundraising gives the business a market capitalisation at admission of around £4.2m on the on the Aquis Stock Exchange (AQSE).
The firm – which has has Atari co-founder Nolan Bushnell on board as a non-executive director – said it will use the net proceeds for working capital purposes in pursuing its strategic objectives, and that directors believe the company has the skill set and vision to gain a strong foothold in the 海角视频 market, which is set to mature rapidly.
The firm said growth in esports is exploding, with a predicted 2.7bn gamers across the globe last year, giving its investors unique exposure to the new sector.
Its first esports team signed in April 2021 and competes under the name Top Blokes, ranking third in Europe and sixth globally in the Rocket League Championship Series at the end of the 2020 Fall split.
Hybridan LLP acted as the company’s AQSE Corporate Adviser and Broker in relation to the admission and placing and is acting as the company’s AQSE corporate adviser and broker from admission.
Kevin Soltani, CEO of Semper Fortis Esports, said: “We are delighted with the support the company has received from both existing and new shareholders.
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“The successful fundraising will now enable the management to begin the pursuit of its strategy in the exciting and growing market represented by esports, forecast to grow 12% per year globally between 2020 and 2024. We look forward to updating the market with further developments in due course.
“Our multifaceted business model covering esports teams, brand & technology partnerships and B2B advisory services ensures investors have multiple shots on goal when it comes to exposure to this rapidly growing industry.”
Nolan Bushnell, who launched video game console maker Atari with the late Ted Dabney in the early 1970s was involved in creating retro game Pong, after being inspired by a similar ping pong game on a different console.
He added: “When I started Atari and the video game industry in the 1970s we had no idea where it would ultimately end up. Now I can say that esports is hugely gaining in popularity, with a completely inclusive and fun philosophy. Semper Fortis is right at the forefront of this.”