Brazilian esports organization INTZ announced Tuesday it is looking for new investors as it seeks franchises in various esports, including the Brazilian Championship of League of Legends.
“The reason we are attracting investments is due to the need of purchasing our spot in franchises, mainly from the Brazilian Championship of League of Legends (CBLoL), as well as for the other projects planned for 2021, which are directly related to the possible entry into the franchise,” INTZ CEO Lucas Almeida told The Esports Observer.
The company is seeking bids for ownership interests of up to 10 percent, The Esports Observer reported, with the round of funding expected to run through August.
INTZ, founded in 2014 and originally known as INTZ e-sports, have competed in the CBLoL since 2015, proving to be one of the top teams. Their most recent title came at CBLoL Split 1 in 2019.
CBLoL will move to a franchising structure in 2021. Flamengo Esports, owned by Simplicity Esports, secured $500,000 earlier this year with an eye on securing a franchise spot.
—Field Level Media