LOS ANGELES, March 24, 2021 /PRNewswire/ -- Glytch Inc., a brand-new enterprise that combines location-based entertainment with professional esports arenas, today announced that Brett Johnson, co-founder of Benevolent Capital has acquired a majority of Glytch Inc.'s preferred Series A class and will join Glytch's board of directors. Brett Johnson's investment into the round originally led by Joe Montana's Liquid2.vc fund, adds momentum to Glytch, which in November announced that it has broken ground on its flagship site in Los Angeles.
Brett Johnson acquires majority of Glytch preferred stock, will join board of directors.
"Glytch is a perfect example of the next big wave in the growth of the esports industry—companies that provide essential infrastructure for live events in a setting that offers a breadth of live gaming experiences. I'm beyond excited to play a role in the evolution of Glytch," says Brett Johnson, CEO/Founder of Benevolent Capital.
Brett Johnson co-founded Benevolent Capital Partners with his twin-brother Grant Johnson as their family office. Brett Johnson is co-chairman and part owner of the Phoenix Rising Football Club, and the owner of FC Tucson, United Soccer League franchises that play in the Championship and League One divisions. In partnership with his professional sports anchored real estate development firm, Fortuitous Partners, Brett owns the rights to the United Soccer League Championship franchise expected to launch in 2023, as part of the iconic Tidewater Landing development in Pawtucket, Rhode Island. Brett is developing other professional sports and entertainment anchored, mixed-use real estate development projects, each of which will feature multi-purpose outdoor stadiums.
"The growth of Esports is stunning and Glytch's approach to the market through their stadium and location-based entertainment model, is a perfect complement to our professional soccer portfolio and Fortuitous Partners' sports-anchored real estate development platform," added Brett Johnson.
"Partnering with Brett Johnson is perfect for Glytch's growth plans. What he is doing to grow the sport of soccer is the mirror image of how we want to grow esports," says Michael Williams, CEO/Founder of Glytch.
Glytch venues are large scale - 50,000 to 90,000 sq. ft. - with seating capacity for thousands of fans and dynamic staging to accommodate a wide variety of esports and other live events. The stadium is set within a fully themed, immersive atmosphere and is surrounded by virtual reality simulators, escape rooms, drone racing, classic arcade attractions, and upscale food and beverage options.
Michael Williams is the recent owner of GameWorks and a life-long video game developer. He has been working diligently to fulfill the vision of esports stadiums by securing significant strategic partners in every discipline involved in these large-scale projects. Glytch's objective is to open the first four locations as soon as possible and follow them with additional groupings of locations to form real world esports conferences across America.
About Benevolent Capital:
Benevolent Capital was founded in 2005, by Brett and Grant Johnson, as their Family Office. From this initial launch, their platform has expanded to include a world-class group of partners, associates and investors, and their portfolio now spans catalytic investments in venture capital, private equity, real estate development and a diverse collection of global professional soccer franchises.
Before creating a private equity firm, Benevolent Capital's team were operating executives of companies ranging from start-ups to an international company with over $500 million in revenues. Their wide range of experience from managing successful companies, to completing management buyouts, acquisitions, and a wide variety of debt and equity investments totaling over $4 billion enables them to truly partner with the entrepreneurs and management teams of their portfolio companies and provide hands on support and guidance towards realizing their full potential. BenevolentCapital.com
About Fortuitous Partners:
Fortuitous Partners is a professional sports anchored multi-asset real estate firm developing the iconic Tidewater Landing development in Rhode Island (thetidewaterlanding.com). FortuitousPartners.com
About Liquid2 Ventures:
Founded in 2015 by Hall of Fame NFL quarterback Joe Montana and built by a team of ex-founders, L2V is a seed stage venture capital firm built for the post-cloud, post-mobile, post-accelerator world of technology startups. For more information, please visit Liquid2.vc
Glytch combines esports arenas with location-based entertainment and upscale food and beverage. Each Glytch venue is the official home stadium of a major esports team. Glytch has broken ground on its first location, in Los Angeles, California, which is scheduled to open in Q4-2022. Glytch.com
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SOURCE Glytch Inc.