Brazilian investment group Componente, known for its focus on sports promotion, is the new associate of Go Gaming, the organization behind Rensga Esports, a team approved by Riot Games to be part of the Brazilian League of Legends Championship (CBLoL) franchise. According to a representative for the company, the first contacts started four months ago, at the same time the application to the franchise was submitted to Riot Games Brazil.
The value of the investment was not revealed, but the CEO of Go Gaming Djary Veiga confirmed to The Esports Observer that it rests at a Series A level. The funds will be mainly used to pay for Rensga Esports’ spot it the CBLoL, which has its price fixed at $4M BRL (around $710K USD). Some of the funds will also be used for improvements for the team and expansion of the Orbi Gaming, a facility also belonging to Go Gaming which is used by Rensga Esports as a training center.
Regarding its new partner, Veiga said that “we are very happy with the arrival of Componente as a strategic partner in our growth. It is a huge addendum to the team mainly for its experience on the solid growth of several companies, such as Bodytech, Soul Cycles, and Fast Triathlon, in addition to its tradition in promoting and encouraging sport.”
Componente Founder João Paulo Diniz also spoke with TEO about his investment at Go Gaming: “Through my son, who worked at GO4IT [the company investing in Gamelanders/Final Level], I got to know the esports world and was amazed by the growth, potential, and numbers of the area, which sometimes surpasses even the traditional sports. So I got connected through my son to the Go Gaming executives, liked their project, learned the potential of the franchise in CBLoL, and decided to enter this market.”
Go Gaming and Rensga Esports are based in Goiânia, a city 900 kilometers (roughly 559 miles) from São Paulo where the main CBLoL events are held. Veiga told TEO that the team will not move from its hometown but will travel every weekend to play the CBLoL rounds. Also, there is a hope that other teams will also go to Goiânia to play at Rensga’s home, expanding the competition’s physical reach. Veiga affirmed that this was an intention presented to Riot Games during the application phase to the franchise.
With only a little over a year of existence, Rensga Esports has captured the hearts and minds of esports fans in Brazil. With a cowboy theme, language, lifestyle, and even music (impersonating the Brazilian stereotype from Goiânia), the good humor of the organization has been a strong weapon for brand expansion, taking it as far as getting a franchise spot.
Other groups investing at Go Gaming are Risa Investimentos, G5 Investimentos, and Masa Societária, together with the investors Cassius Crocetti Crosara, Helder Henrique Valim Barbosa, and Lucas Carneiro Ramos. Go Gaming’s initial investment for structuring Rensga Esports and Orbi Gaming was approximately $2.5M BRL (around $444K USD).