Last week, Rich profiled New Wave Esports (CSE:NWES), an esports and competitive gaming investment company that began trading its shares publicly on October 28. Today, Rich welcomes New Wave’s Chief Executive Officer and managing partner Dan Mitre to the studio.
With more than 17 years of experience in the video game industry, Dan has led global campaigns for major gaming companies like Electronic Arts Inc. (NASDAQ:EA), Sega of America, THQ, and many more. He’s also worked closely with developers at DICE, BioWare, Respawn, and Treyarch. Prior to starting New Wave, he co-founded Thunderbolt CDG.
Rich and Dan discuss how his company operates and which investments it’s already made.
New Wave Esports’ Investment Strategy
“We seek to acquire, invest in, and develop [esports] technologies by deploying working capital in small- and mid-stage companies,” Dan explains.
He adds that New Wave is not a traditional investment group. It doesn’t merely hand over a check and see how the investment is progressing each quarter.
“We actually get very involved in our companies,” Dan says. “We take advisory roles, we sit within the C-level executive teams, and we drive strategy and execution. We understand where new revenue opportunities lie and create better businesses.”
New Wave’s Remarkable Portfolio
New Wave Esports invests in four sectors within the competitive gaming industry. They are:
1) Teams, leagues, and organizations
2) Platforms and networks
3) Events and activations
4) Technologies and tools
Dan specifically cites his company’s relationship with Lazarus Esports, a storied Canadian multi-gaming esports organization. New Wave works with Lazarus through its investment in Tiidal gaming.
“We work very closely [with Lazarus] and help strategize how they’re going to grow their organization,” Dan explains. “What I like about Lazarus is that they already have 50-plus players worldwide and operate in 10 different countries across 12 different games. So they already have a diversified background.”
In July, Lazarus competed in the Fortnite World Cup, where its six-member team took home $3.5 million in prizes. The team won second place in the duos and fourth place in the solo portion of the tournament. This made them the number one ranked Canadian team and a top twenty-five team worldwide.
New Wave Esports also invests in a company called Even Matchup Gaming. EMG runs the biggest Super Smash Bros. championships in Canada and in the tri-state area. The company’s events stream to a worldwide audience through YouTube and Twitch.
New Wave’s Share Structure and Market
Dan explains that NWES currently has 72 million shares issued and outstanding, with about 50 million in warrants. The stock is currently trading at $0.10.
Esports is a fast-growing industry projected to reach $2.17 billion by 2023, with a CAGR of 18.61%. As Dan points out, the industry largely remains untapped.
“Here in North America, we’re at the ground level. Investors should get in early to get those multipliers coming in. We’re the experts here, at New Wave we’re very close with the publishers and developers. Let us do the hard work for you and vet all those deals coming in.”
If you liked this article, check out Rich’s interview with Victory Square Technologies CEO Shafin Tejani (CSE:VST) (OTCQX:VSQTF).
Featured image: DepositPhotos © stavklem_sale