Team Vitality raises EUR 20 millionPosted on: Nov 28, 2018 By smartlaunch in News and trends,
European esports organization Team Vitality has raised EUR 20 million, or USD 22,7 million, in an investment from entrepreneur Tej Kohli, as reported by venturebeat.com.
Team Vitality plans to first expand its presence in China and Southeast Asia, with Kohli’s support, and to reach more viewers than it currently reaches. Southeast Asia is the fastest growing region for esports, with major brands, such as Singtel.
Tej Kohli is the backer of Swiss-based robotics and venture studio Rewired, which is focused on applied sciences and technologies. Kohli has committed USD 100 million to Rewired. And Rewired has now launched an esports division, Rewired GG, which is solely dedicated to investing in esports. The backing of Team Vitality is the first investment for Rewired GG. The Rewired GG fund is EUR 50 million, or USD 57 million.
Team Vitality has established itself as a leading professional brand in Europe with rosters across a number of titles. Vitality will tap Kohli’s business experience to try to build a brand recognized around the world. The team will use the money to develop state-of-the-art facilities, including training and performance centers, as well as a flagship store and office. It will also be used to build teams that can compete on the global esports stage.
Fabien Devide and Nicolas Maurer founded Team Vitality in 2013 in France. Vitality has recently launched a team for Counter Strike: Global Offensive, better known as CS:GO. That team won the DreamHack Open esports tournament in Atlanta. Vitality was also recently confirmed as one of the teams that has secured a long-term partnership in the newly franchised European League of Legends Championship Series, which has been rebranded as the LEC. The team has a current portfolio of 10 games, including League of Legends, CS:GO, Fortnite, PlayerUnknown’s Battlegrounds, Rocket League, and more.
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