The Location-Based Entertainment Extended Reality (XR) Association – LEXRA – will host its next webinar on raising capital on May 18 at 5 p.m. Eastern time. The event will be led by the association’s executive director Bob Cooney, who has raised more than $100 million of investment capital in his career.
The webinar comes on the heels of a €35 million investment round from a private equity firm to expand Esports Virtual Arenas (EVA) from its current 70-location footprint further into Europe, with an expectation of more than 200 venues in the next few years.
“EVA’s business model has come under repeated questioning from people, including me,” Cooney explained. “It’s hard to understand how they run a profitable business when only 10 players can play at a time in a 5,000-sq.-ft. space, paying only €20 a game. But I know private equity, and I know there’s no way in hell they’d have raised €35 million if their core business didn’t work. It just goes to show you that you should always question your assumptions.”
Click here to register for the webinar and visit www.lexra.org to learn more about the association.