New Sports and Esports Holding Company F7WA Sports Born in Brazil With $9.4M Investment

Formed by six different companies, the F7WA Sports has launched in Brazil with a kickstart investment of $52M BRL (roughly $9.4M USD). The holding company will act in esports, traditional sports, and general entertainment businesses, promoting events like the EA Sports FIFA 21 independent championship Kick-Off Electronic League (KOEL), managing initiatives like the Corinthians E-Football team, and also developing projects for brands that want to enter the esports environment like water park Wet’n Wild. F7WA will also act in business intermediation on traditional sports.

The associates of the holding company are Felipe Carvalho, responsible for the FIFA Puskás Award winner Wendell Lira career management in esports; marketing professionals Adriano Echeverria, Tatiane Costa, Daniel Salvatori, and André Carvalho; and former ESL executive in Brazil Moacyr Alves. Undisclosed investors from the international financial market, other advertising professionals, and professional soccer athletes are also part of the board.

The group invested in the acquisition of four companies that changed their names in the integration process: The creator of KOEL, TTB Branded Content, and Arcadia Group became 7WPLAY. The gaming platform Gamund became 7W Tech, and the sports business intermediation company Gecaf Sports is now 7W Business. 7W Hospitality, focused on receiving guests for sportive experiences, 7W House, a content production center, and 7W Broadcast, focused on esports broadcasts, are the other three companies in the holding.

The $9.4M investment will be applied mainly to the construction of the 7W House, which plans to be the “most modern content production center” in Latin America, and to structure each of the six companies of the holding. The group expects a $30M BRL (roughly $5.4M USD) revenue still for 2021.

Besides KOEL, the Corinthians E-Football team, and the Wet’n Wild projects, F7WA is also involved in the organization of a Pro Evolution Soccer championship in partnership with the São Paulo Soccer Federation (FPF, from the acronym in Portuguese). The holding will also bring the College Esports Expo (CEX) platform to Brazil, an American initiative for esports promotion in universities.

Source: Read Full Article