Esports investment fund Vision Esports has closed a $38 million round led by a number of huge sports industry names.
Evolution Media, a firm led by talent and sports agency Creative Artists Agency and TPG Growth, led the round alongside the St. Louis Cardinals, Golden State Warriors forward Kevin Durant and The Durant Company, and New York Giants wide receiver Odell Beckham Jr. The Disney family’s private investment arm, Shamrock Holdings, also contributed to the round. Previous investment includes the New York Yankees.
“At Vision Esports ‘we play to win’ and we know that esports are pro sports, with the same ecosystem components and business drivers,” Vision Esports managing general partner Stratton Sclavos said in a statement. “Our investors are some of the smartest and more accomplished names in sports and media and they share our passion, committing not only capital but also their organizational resources and relationships in our quest to change the professional sports landscape.”
Vision Esports has used the money to invest in three video game companies: Echo Fox, Twin Galaxies, and Vision Entertainment.
Vision Esports is now the largest shareholder in each of the companies, which span across esports. Echo Fox, NBA champion Rick Fox’s esports organization, holds rosters in League of Legends, Call of Duty, Gears of War, and H1Z1. Twin Galaxies focuses on video game world records, while Vision Entertainment creates original esports content and live events.
“Esports is one of the highest growth sectors within all media and entertainment,” Evolution Media founder Rick Hess said in a statement. “We couldn’t be more bullish on the space and Vision’s market position.”