Crédit Agricole Private Equity is acting as lead manager in Cologne, Germany-based Turtle Entertainment GmbH’s second round of financing alongside Corporate Finance Partners CFP & Founders Investments and longstanding shareholder EKK Unternehmensbeteiligungen.
The aim of this round of financing is to develop Turtle Entertainment at an international level and enhance its technological platform.
Founded in 2000, the company is an European market provider in electronic sports (eSports) and founder of the Electronic Sports League (ESL), which operates all over the world via 12 licensed partners in 35 countries.
Commenting on the investment, Christian Claussen, Senior Partner within Crédit Agricole Private Equity’s Venture Capital Team in charge of business development in Germany and Northern Europe, comments, said: “We are delighted to be working with such an innovative and fast-growing company as an active investor providing the capital needed to support its expansion”.
As stated by Jens Hilgers, CEO of Turtle Entertainment, “Crédit Agricole Private Equity’s involvement as a new investor will enable us to promote this community based culture and develop our operations, particularly outside Europe”.
According to an official statement, the investment reflects Crédit Agricole Private Equity’s strategic desire to boost its position in the German venture capital market, with the aim of investing €8-12m a year in innovative German companies.