North American organisation FaZe Clan has closed its latest funding round, which was led by entrepreneur Jimmy Iovine.
Perhaps known best for being the co-founder of both Beats Electronics and Interscope Records, Iovine led the round alongside NTWRK – a platform he’s invested in that his son, Jamie Iovine, co-founded.
Following the investment, NTWRK has acquired the global direct-to-consumer product rights for FaZe Clan. The platform has previously released limited-edition merchandise for the likes of LeBron James and Billie Eilish.
Iovine spoke on the investment in a release: “We’re at the birth of a new disruptive entertainment genre.