Many congrats to Glisco Partners for its savvy investment in GGTech Entertainment and an agregate $250mn raise so far for its fifth equity fund, and its new real estate fund, an impressive feat in the current environment. GGTech is one of the main organisers of the fast growing esports events and competitions worldwide, and with this investment will consolidate its business in Europe, the Middle East, North Africa and Latin America, and accelerate its entry into the US market. As all under 30s know, Gen Zs/MIllennials spend far more of their free time Gaming (25%/21% of free time respectfully- according to NewZoo), than Social Media (18%/18%), Streaming (17%/19%), TV (15%/17%), Music (14%/14%) and Reading (11%/11%). Yet there is a huge 20-30x imbalance between the amount of free time spent on Gaming and the Marketing Spend on it. As this gap closes, and brands migrate to where the young eyeballs are, esports events among others will reap the rewards.
Delighted to share that we've invested in GGTech Entertainment, our final investment in fund IV, and excited to announce the first closings of our fifth growth equity fund and our first real estate fund.
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3wWow, very impressive!!!