The Toronto Raptors isn’t the only team rapper Drake is cheering for right now.
Drake’s competitive gaming team, 100 Thieves, is also going for the gold by raising a fresh round of money that could allow it to win a slot in an up-and-coming Activision Blizzard video game league, The Post has learned.
100 Thieves, which competes in popular video games like Fortnite and Call of Duty, is out seeking as much as $25 million from potential investors in a round of funding that could give the so-called e-gaming team a valuation of roughly $150 million, a source with direct knowledge of the situation said.
The team was valued at roughly $90 million in October when the artist behind the popular “Hotline Bling” song became an investor, according to Forbes.
Other 100 Thieves investors include Scooter Braun, agent for pop stars like Justin Bieber and Ariana Grande, Cleveland Cavaliers owner Dan Gilbert and billionaire tech Chief Executive Marc Benioff.
Drake, whose real name is Aubrey Drake Graham, became a co-owner of 100 Thieves along with Braun when the two men led the October round, which also raised $25 million, Forbes wrote at the time.
Besides competitive gaming, 100 Thieves sells apparel, and in June, will be launching its own streaming shows.
The latest round of money will go toward the team’s operations, likely including a roughly $25 million initiation fee to participate in a new Call of Duty e-sports league formed by the video game’s publisher, Activision Blizzard, sources said.
If 100 Thieves joins the Activision league, it would become the official Los Angeles team, a title that would allow it to start selling tickets to competitions at LA-area arenas.
Electronic gaming, or e-sports, is growing fans at such a rapid pace some insiders predict its best teams could soon become as valuable as NHL teams.
Mike Rufail, chief executive of Envy Gaming, noted that his team — Dallas Fuel, which competes against 100 Thieves — recently drew 4,500 fans paying an average of $50 a pop for an e-sports contest, he told The Post. “I think you could see valuations for some teams reach the level of National Hockey League teams,” or equal to about $500 million apiece, he said.
But as with many startups, the teams are not making money, Rufail added.
“Operating a team at a professional level costs money,” he said. “Usually, if you want to see growth, you have to invest.”
If a few teams find their footing and break even — or become profitable, Rufail said, he sees valuations rising considerably in just a few years .
“I would say there’s tremendous upside for a team like 100 Thieves,” Rufail added of his rival.
Drake and 100 Thieves declined to comment on the fundraising.
On Thursday evening, the Toronto Raptors opened the NBA Finals, where Drake was sure to be courtside. His courtside antics — including loudly trash-talking rivals — has drawn much attention of late.
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