New local investment fund makes first NM investment - Albuquerque Journal

New local investment fund makes first NM investment

A screenshot from Champria’s Twitch page from a recent exhibition match series called Champria Challenge. The New Mexico-based esports company recently received an infusion of cash from newly formed venture investment platform GOS Capital. (Courtesy of Champria)

New Mexico’s newest homegrown venture investment platform, GOS Capital, closed Oct. 1 on its first commitment to a local startup, pumping $27,000 into esports company Champria.

Scott Goodman

Although small, this first investment is one of five deals that GOS Capital expects to close on with local startups this fall, potentially reaching up to $150,000 in seed-level commitments by year-end, said GOS Managing General Partner Scott Goodman.

The investment platform, which Goodman began organizing in 2019, is starting small by design, allowing GOS to gain a track record before raising a formal venture fund next year. For now, Goodman is pooling commitments from individual investors for each new deal, with five people contributing funds to the Champria investment.

“We’re focused on early-stage companies, mostly at the seed stage,” Goodman told the Journal. “We’ll close on a second deal within the next two weeks, likely for about $35,000. I expect a few more investors to join in each new deal, allowing investment levels to grow.”

Goodman, 28, has racked up significant experience since 2015 as vice president and head of acquisitions at the Goodman Realty Group, a family business where he sources deals, leads due diligence and originates debt and equity.

After joining the New Mexico Angels investment group a few years ago, Goodman launched GOS to pump more capital into local startups, with nearly two dozen affiliated investors now participating in deals on a case-by-case basis.

GOS is, for now, a minority contributor in deals led by venture funds and other investors. But Goodman hopes to make it a lead investor in the future.

“There aren’t many local investors right now willing to take the lead,” Goodman said. “I want to position future GOS funds to fill that void. That can help New Mexico’s startup community a lot.”

Indeed, GOS is a minor participant in Champria, which has raised more than $500,000 to date, including an investment from the Arrowhead Investment Fund at New Mexico State University.

The esports platform went live early this year, providing the amateur video gaming community with an automated venue to recruit players, organize teams and arrange matches. Data analytics allow users to track and rate performance, said founder and CEO Zeke Chavez.

“It offers a centralized location for amateur-level teams to come together, visualize data and grow and improve,” Chavez told the Journal. “We’ve done more than 8,000 matches so far, with at least 20,000 players.”

Platform use is currently free, allowing Champria to scale up before launching a subscription-based model next year, Chavez said.

Globally, esports revenue climbed above $1 billion in 2019. This year, it attracted nearly 27 million monthly viewers, according to Insider Intelligence.

Goodman said he believes in the future of esports.

“That’s why I made Champria the first GOS investment,” Goodman said. “I believe it will grow very big.”

 


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

Nativo Sponsored Content

taboola desktop

MORE ARTICLES LIKE THIS

1
United Way to serve as literacy resource
ABQnews Seeker
211 service is a free connection, ... 211 service is a free connection, referral to information
2
Rep. supports UNM graduate workers' organizing for collective bargaining ...
ABQnews Seeker
University is fighting a labor board ... University is fighting a labor board ruling that recognized the union
3
Proposal to curb governor's emergency powers stymied again
ABQnews Seeker
A renewed attempt to limit the ... A renewed attempt to limit the emergency powers of New Mexico's governor stalled Wednesday in a House committee. The proposal, House Joint Resolution 3, ...
4
Cases, hospitalizations and deaths all up in NM
ABQnews Seeker
Congresswoman one of many to test ... Congresswoman one of many to test positive for COVID-19
5
Charges lodged in shooting at apartment party around Halloween
ABQnews Seeker
Victim was shot in the face ... Victim was shot in the face but survived
6
Five charged in Albuquerque drug theft plot that left ...
ABQnews Seeker
'I'll never be the same,' says ... 'I'll never be the same,' says father of slain 19-year-old
7
Supreme Court: Former sheriff can resume his role as ...
ABQnews Seeker
Torrance County jurist had been suspended ... Torrance County jurist had been suspended over AG's felony allegations
8
Lawmakers clash over student ID for voting
ABQnews Seeker
Amendment to proposal for new Election ... Amendment to proposal for new Election Day rules faces objections
9
Pretrial detention bills getting pushback at the Roundhouse
ABQnews Seeker
One measure backed by the governor ... One measure backed by the governor is pulled to address legality, other worries