Michael Jordan is diversifying his portfolio even further. The NBA legend is entering in to the world of Esports with an investment in aXiomatic, a startup that has a controlling stake in Team Liquid, according to Bloomberg. Team Liquid is the third-most valuable Esports company in the world, trailing only Cloud9 and Team SoloMid, according to Forbes. With teams in League of Legends, Fortnite, DOTA 2, Counterstrike and PlayerUnknown's Battlegrounds, Team Liquid also has one of the widest ranges of games of any Esports team.
Jordan is one of two new investors in aXiomatic, joining David Rubenstein's family office in Declaration Capital. The two were part of a $26 million funding round and were joined by Los Angeles Dodgers/Golden State Warriors co-owner Peter Guber, Oaktree Capital Management cofounder Bruce Karsh, Washington Capitals/Wizards owner Ted Leonsis and Tampa Bay Lightning owner Jeff Vinik. All of those investors existed before the round.
AXiomatic is still technically a startup, but it's investment in Team Liquid has fast-tracked its growth. The company was founded in 2015, and it picked up stake in Team Liquid in 2016. Magic Johnson has also invested in the company, but he's not part of this round.
It's unknown what percentage of the $26 million pie Jordan is responsible for. Jordan, of course, also owns the NBA's Charlotte Hornets, and the NBA has taken a leadership role in the fast-growing Esports world with its 2K League.
