Investor looks to bridge gap in esports with ReKT Agency
Editor’s note: This story is revised from the print edition.
The founding partner of venture capital firm SierraMaya360 has launched a consultancy and jobs board devoted to the burgeoning world of esports.
ReKT Agency will act as a transactional adviser for parties interested in buying, selling or investing in esports franchises or other properties. They’re also advising venues looking into esports event hosting, and offer help with sponsorship and content production.
Founder Amish Shah said the flow of investment dollars into esports has been slowed, in part, by the wide cultural gap between esport team founders and establishment sports business. Based in Charlotte, ReKT will use a network of advisers to help clients get those deals done, Shah said. The advisers will be called upon as needed, but will not be employed by the new agency.
“There’s no one doing that on the due diligence or M&A side that can bridge the gap between esports teams and the sports media sector and investors,” Shah said.
The agency has five clients so far, he said. Services include valuation, deal structure, finding acquisition targets and market analysis.
Separately, Shah also is launching ReKTJobs.com, a jobs board for career opportunities in esports. Shah believes it’s the first of its kind. The site will be live Tuesday. Jobseekers can use the site for free, but jobs will cost $250 per post for employers, with discounts available.
ReKT hopes to hire up to 20 people within six months, he said.
SierraMaya360 entered esports in June when it acquired a minority stake in Team EnVyUs, a Charlotte-based team that competes in eight titles.