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Ninjas in Pyjamas has confirmed that it will receive a new investment from Felix Granander, son of late Swedish media mogul Jan Stenbeck.

[perfectpullquote align=”right” cite=”” link=”” color=”” class=”” size=””]Though not disclosed, the amount raised is confirmed to be in the “double digit” million range.[/perfectpullquote]

Though not disclosed, the amount raised is confirmed to be in the “double digit” million range, and that Granander will purchase a fifteen percent stake in the Swedish esport organisation.

Hicham Chahine, CEO of Ninjas in Pyjamas, told The Esports Observer that this investment opportunity came a few months prior to NiP’s latest funding round:

“We’re not in a position where we require capital, so it’s more what comes next for us in terms of global expansion. With this investor coming along, ahead of time, we found it was a good opportunity to get him on board, but we’re still in the plan of continuing the process that we already started on.”

Prior to his passing in 2002, Jan Stenbeck was ranked as one of the wealthiest men in Sweden, with ownership stakes in several media and telecommunications companies. This most notably included the Modern Times Group – a digital entertainment company that acquired a 74% stake in Turtle Entertainment/ESL for $86.8 million in September 2015, and the the entirety of Dreamhack later that year. In its 2016 annual report, MTG no longer lists Stenbeck’s son as a shareholder.

[perfectpullquote align=”left” cite=”” link=”” color=”” class=”” size=””]Felix Granander is now the fourth largest capital owner in NiP, behind Diglife, Emil “HeatoN” Christensen and Nyx Ventures.[/perfectpullquote]

Felix Granander is now the fourth largest capital owner in NiP, behind Diglife, Emil “HeatoN” Christensen and Nyx Ventures. The latter of these invested in the organisation in August of last year.

The investment deal was brokered by Orlando John; a talent management agency that also represents Ninjas in Pyjamas as well as players from Fnatic, Archon and Alliance.

NiP’s current funding round is reportedly strategic in nature. The company is specifically focusing on partners who could aid its global expansion. “Obviously there’s a valuation number in place, and a higher cap, but there’s no goal to check that cap in,” said Chahine.

Ninjas in Pyjamas currently produces its own line of PC gamer hardware, under the Xtrfy brand. While the gear is widely available across the Nordic and European region, Chahine is looking to expand its global reach – along with the NiP’s streetwear and professional wear lines.

“We are also exploring the casual, more mainstream gaming approach, with more content creators, streamers, YouTubers,” he added. “Obviously esports will always be the core focus for us. We have a quite successful CS:GO team, a League of Legends team, a Paladins team, and we’re announcing a new game later this week. We will be expanding more titles at a later point as we find attractive opportunities along the way.”

While its latest investor comes from a notable Swedish family, Chahine says it was Granader’s strategic value through other investments and interest in esports that ignited interest from NiP. The org itself is one of few in esports with a clear national identity, and though its CEO acknowledges the traditional, Nordic heritage, he adds that a low percent of its fans are Swedish. However, the brand and fan base is truly global.