According to Sports Business Journal, Team Liquid, and its parent company aXiomatic, announced the close of a $35 million financing round. The investment round, led by Ares Management, was made at a $415 million valuation.

The round also included participation from Hiro Capital, a European venture fund with a focus on esports, video games, streaming, and digital sports; Revolution Growth, a venture fund led by Ted Leonsis, aXiomatic co-executive chairman and founder, chairman, majority owner and CEO of Monumental Sports & Entertainment; AOL co-founder Steve Case; Softbank Capital veteran Steve Murray; and several existing aXiomatic investors.