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XSET announces it has closed a $15 million round of funding for its gaming and lifestyle brand.
The organization will use the capital to invest in new executive talent, marketing and content creation. Funding is led by LightWork worldwide, a global holding of streetwear and lifestyle brands. LightWork Worldwide also recently supported streetwear brands such as 424, Round Two, Psychworld, No Vacancy Inn and Supervsn.
“The gaming lifestyle market has enormous potential globally and we see XSET as the next big brand for youth culture, driven by a top team. Not only do they have many differentiating qualities from their competitors, they are also fully aligned with our strategic vision of creating a formidable lifestyle brand that transcends markets,” said Edward Zhou of LightWork Worldwide in a statement to GamesBeat. “We are excited to partner with XSET as they continue to bridge the gap between gaming, fashion and lifestyle. This will be an important strategic alliance as we will actively work with the executive team to drive new revenue streams and leverage our strength and resources in investment, sourcing, development, licensing and store activations as they continue to build on what we do. without a doubt, will become Gen Z’s defining gaming lifestyle brand.”
Happy Birthday, XSET
XSET itself is celebrating its 2nd anniversary. The company is both a gaming organization and a lifestyle brand. It has esports athletes competing in more than half a dozen top-level games. His flagship Appreciate team, XSET Valorant, recently became the North American champion in the Valorant Champions Tour.
XSET has partnerships with Ghost Lifestyle, SCUF Gaming, Roots Canada, HyperX, Quality Control Music, Respawn, Fanshark and Wahlburgers. The organization also works with socially positive causes, including Big Brothers Big Sisters of America.
“XSET’s approach from the beginning has been to build a brand focused on revenue and profit, while still building on our values of diversity and inclusion,” said XSET CEO Greg Selkoe.
The financing round also includes a large number of other investors. Alpha Sigma Capital, Apex Capital Partners, Baron Davis Enterprises, Breakaway Ventures, Concept Art House, Gaingels, Gee Roberson Management, GuildFi, Quality Control, TheAlliance, Swae Lee, Mind Melt Media, Whitwell & Co, Worldwide Wes and Young Money all have contributed .
Six NFL athletes also contributed to the round. Ezekiel Elliott, Justin Simons, Adrian Colbert, Alkho Witherspoon, Ndamukong Suh and Kyle Van Noy all contributed individually.
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