Lee Zieben Continues To Make Mark On Houston Esports Market
Houston real estate investor Lee Zieben is in the process of raising $50M to "finance an esports holding company," and he is "aiming to wrap up" the fundraising effort in the next few weeks, according to sources cited by Chris Mathews of the HOUSTON BUSINESS JOURNAL. Sources said that Zieben has "received interest from investors at the national level, but he is looking to bring on Houston-area investors." He is "seeking minimum investments" of $2M. Sources said that his ultimate goal is to "build a new sports and entertainment real estate development in the Houston area." Zieben is working with Sacramento-based Accelerate Sports and sports attorney Jared Bartie on the project. The fundraising comes just a month after Zieben agreed to terms with Immortals Gaming Club to purchase the OWL Houston Outlaws in a deal that ESPN "valued at approximately" $40M. Sources said that Zieben is also acquiring L.A.-based eUnited eSports, which "competes professionally under the brand eUnited" (BIZJOURNALS.com, 8/27).
For more coverage of the business of esports, visit our partners, esportsobserver.com.