Heroic's CS:GO team needs significant investment

    CS:GO outfit Heroic are on the brink of bankruptcy and require a major cash injection to maintain operations.

    Counter Strike Image credit: SALive Image Counter Strike

    Heroic held a meeting recently in an effort to raise funds from investors, but unfortunately failed to hit the target.

    A second such meeting will be held on March 27, when Heroic will be aiming to raise around $1million to keep the CS:GO team running.

    "... the Company requires further capital and liquidity both in the short term and longer term, to meet its running obligations and to secure the continuing operations of its business," a statement from Heroic read.

    The seriousness of the financial issues was first revealed in January this year when the team's board of directors confirmed that $7million would be needed over the next two years to keep the doors open.