Astralis is a Danish Esports organisation that operates several esports teams within various gaming titles. Astralis is best known for Counter-Strike: Global Offensive, where the team has been at the top of the world rankings for several years.

We helped Management buy out Astralis from its former owners in 2019, principally as we are bullish Esports long-term, and because of the strong Management team. While we generally remain unsure that Esports teams constitute the most investable part of the value chain, we were specifically interested in Astralis because of the incredibly strong brand coupled with the wealth of opportunity for monetisation of that brand, both short- and long term. We think that made them a uniquely relevant investment target in that part of the ecosystem.