NASDAQ-listed gaming operator Esports Entertainment Group (EEG) has actually announced a multi-year collaboration with venture capital company Game Fund Partners (GFP).
As part of the arrangement, EEG will become a part of the Venture Capital Arm and a new prepared $300 million (~ ₤ 217 million) game fund.
Image credit: Esports Home entertainment Group RELATED: SG esports exposes VIE.bet as main jersey sponsor
Grant Johnson, CEO of Esports Home Entertainment Group, said: “We are happy to be a part of this rapidly growing investment fund that is involved in many excellent tasks in the gaming area and beyond. Our company believe this relationship and financial investment is simply the start of our considerable development in funding and partnering with significant projects and sports groups throughout the video gaming market.
“This collaboration opens up a brand-new course for substantial development and added financial firepower for the business. Our strong collaboration with their superior team has currently led to the advancement of Esports betting guideline in Ohio and other states. Working with Video Game Fund Partners has been fulfilling and a source of fantastic chance for ongoing investment.”
According to the release, EEG will at first invest approximately $2 million (~ ₤ 1,45 million) of EEG shares into 20 percent of the General Collaboration of the fund. EEG will likewise work closely with GFP’s management and investment committee.
Jonah Blake, Chief Video Gaming Officer and Managing Partner at Video Game Fund Partnersincluded: “We are very delighted with the combination of our professional teams in the locations of gaming, financing, home entertainment and marketing. Our work with Esports Home entertainment Group has been fulfilling and we are now dealing with and checking out considerable opportunities together that our company believe will be leading drivers and profit centres for our fund, EEG and the industry in general.”
RELATED: EEG called esports partner of Hall of Fame Village
In addition, the 2 entities will team up on joint jobs and investment cars to accelerate growth for GFP in information, blockchain, online video gaming and casino hotels.
Marc Kasher, Chief Financial Investment Officer of Video Game Fund Partners, likewise said: “Our long-lasting collaboration and the chance we have in working together with Esports Home entertainment Group is an essential to our continuing technique of recruiting and including the absolute best skills across the gaming and finance ecosphere.
“We are at the leading edge of developing a substantial business together that I believe will be a leader in video gaming and a new metaverse. EEG is a leader in video gaming software and online gaming along with financial investments in cryptocurrency. We see a variety of very attractive monetary chances in continuing and future jobs with them.”
Earlier this year, EEG likewise partnered with NFL franchise the Indianapolis Colts to operate co-branded esports tournaments by means of its Esports Gaming League Platform. EEG was also called the official esports competition platform of the LA Chargers.
Esports Expert says: Through this enormous investment plan EEG and GFP reveal their commitment to advancing esports and video gaming endeavors. This collaboration also even more highlights the market’s continuous growth and the many financial chances it holds, particularly concerning standard sports, online gaming and cryptocurrency.
Register to our ESI Dispatch Newsletter