case / 27 Aug 2020
Setterwalls assists Chinese Alibaba Group with investment in Swedish e-sports platform Challengermode
Setterwalls assists eWTP Innovation Fund, the global investment arm of Alibaba Group, which led a financing round in Challengermode AB hosting a leading e-sports platform for tournaments and championships arranged by various organizers, e.g. FIFA.
Other investors in the direct share issue of total SEK 105M include (i.a) Telia Company AB, as well as the existing shareholders GP Bullhound, the Lundin family’s venture capital company Back In Black Capital and a company owned by Zlatan Ibrahimović.
Challengermode AB is a tech company founded in 2014 with a leading position in the rapidly growing global e-sports market. Invested funds will be used to enable further growth, international expansion, and accelerated monetization.