Esports Company TSM Raises $37 Million

Posted on: Jul 26, 2018 By smartlaunch in News and trends,

 

Swift, the parent company of Team SoloMid, has raised $37 million through a series A funding round, attracting such high profile backers as NBA player Stephen Curry and Yahoo co-founder Jerry Yang.

The investment covers not just the team organization, but all of the company’s services. The company announced to be splitting the funds across a few major directions: $10 million on acquisitions and investments in the gaming industry, $20 million on franchising fees (TSM’s slot in the NA LCS requires a $10 million entry) and building a 15,000-20,000 square foot esports facility in Los Angeles.

Other investors in the Series A include Telstra, Australian telecommunications, Steve Simon, owner of Simon Property and son of Indiana Pacers owner Herb Simon, Andre Iguodala, three-time NBA champion for the Golden State Warriors, Steve Young, Hall of Fame NFL player, Yifang Ventures, led by Eric Xu, cofounder of Baidu, Colin Carrier, former chief strategy officer of Twitch and Walter Wang, CEO of JM Eagle.

 

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