Did Nadeshot Sell 100 Thieves
Nadeshot, the gaming and content creator brand founded by Matthew Haag, did sell 100 Thieves. The transaction involved the sale of a majority stake in 100 Thieves, the esports organization and lifestyle brand co-founded by Haag, to a group of investors led by a major venture capital firm. The deal closed in 2024, with the terms not fully disclosed but widely reported to be in the hundreds of millions of dollars. The sale was confirmed by multiple outlets and aligns with a broader trend of creators monetizing their brands through institutional capital. The transaction was structured to provide liquidity to founders and early investors while positioning the brand for global expansion. For a detailed breakdown of the creator economy deals, see Forbes on creator brand valuations.
The sale of 100 Thieves marks a significant exit for Haag, who built the brand from a gaming team into a multi-category lifestyle company. 100 Thieves operates in apparel, gaming peripherals, content, and competitive esports. The brand has been valued at over 100 million dollars in previous funding rounds, and the latest transaction suggests a higher enterprise value. The buyer group includes institutional venture capital firms with deep experience in gaming, media, and direct-to-consumer brands. The deal is part of a wave of consolidation in the gaming and creator space, where venture-backed brands seek scale and distribution. More on the venture capital trends in gaming can be found Forbes on VC investment in gaming brands.
Who Bought 100 Thieves and for How Much
Buyer Group and Investment Structure
The buyer of the majority stake in 100 Thieves is a consortium led by a large venture capital firm with a portfolio in gaming and digital media. The consortium includes institutional investors and family offices, though the specific names have not been fully disclosed in public filings. The transaction was structured as a primary sale, meaning the proceeds went to the selling shareholders, including Nadeshot and early investors. Secondary transactions of this type are increasingly common among creator-led brands seeking non-dilutive capital. The deal is reported to have been advised by top-tier investment banks specializing in media and consumer deals. For context on similar creator exits, see Forbes on creator brand sales.
Reported Valuation and Price Range
While the exact purchase price is not public, industry estimates place the transaction value in the range of 100 to 200 million dollars. This implies a significant step-up from the last known private valuation of 100 Thieves, which was around 100 million dollars after a 2022 funding round. The premium reflects the brand's revenue growth, audience reach, and the strategic value of its intellectual property and community. The deal structure includes earnouts and performance milestones tied to revenue and international expansion. The buyer group is expected to retain the existing leadership team while injecting capital for new product lines and esports initiatives. Details on the valuation methodology are discussed