The Ledger Group has announced that it has closed the first tranche of a planned $1.5M investment into esports team org Splyce.

The investment group will rename to OverActive Media to reflect ownership of esports platforms.

Other investments include ESP parent company Askott Entertainment, and EGLX organizer Enthusiast Gaming.

Splyce currently competes in the EU LCS, which in March confirmed a €8-10.5M buy-in price for next year’s franchised season.

The Ledger Group Inc. has announced that it has closed the first tranche in a planned $1.5M investment in Splyce Inc. , an esports team organization currently competing within the highest tier leagues for League of Legends , Call of Duty , and Halo .

The group’s existing esports investments include Askott Entertainment Inc., the parent company of esports betting site ESP, and Enthusiast Gaming Inc., which created the EGLX gaming expo in Canada and acquired gaming news/review site Destructoid in June 2017.

Speaking to The Esports Observer, Splyce CEO and Co-founder Marty Strenczewilk said:

“Partnering with The Ledger Group opens opportunity in Toronto, a key market in the northeast for us. From the early stages of conversation with Adam Adamou, our main point of contact at Ledger, it was clear that he and I had aligned ideas on where esports is heading and the opportunity in front of us. We’re excited to expand our investment outside of Western NY to strengthen our Northeast roots in North America.”

[perfectpullquote align=”right” cite=”” link=”” color=”” class=”” size=””]Splyce currently houses rosters in eight separate esports titles, and includes Turtle Wax and Mountain Dew among its sponsors.[/perfectpullquote]

To reflect its increasing esports assets, The Ledger Group announced it will shift from an investment platform to an ownership platform, and rebrand to OverActive Media Group.

Adam Adamou, CEO of The Ledger Group, said in a press release:

“Our initial investments in Enthusiast Gaming and Askott Entertainment, and now Splyce, firmly position us to capitalize on a portfolio of some of the industry’s leading companies. We are adjusting our focus to better provide Canadian investors broad ownership exposure to this exciting and growing opportunity.”

A global esports team organization, Splyce currently houses rosters in eight separate esports titles. Along with its partnerships with Twitch , Scuf Gaming , Corsair , and Turtle Beach, Splyce also has sponsorship deals with non-endemic brands Turtle Wax and Mountain Dew. It also partnered with NBA organization the Boston Celtics to help build its NBA 2K League franchise, Celtics Crossover Gaming.