Team Vitality secure 2.5 million euros in funding from multiple investment companies
French esports organization Team Vitality has raised 2.5 million euros in an investment round in order to expand its reach to multiple new games.
Funding comes from the likes of Korelya Capital, an investment company dedicated to supporting the tech ecosystem, Kima Ventures, and H26, an investment company owned by Olivier Delcourt who is president of Dijon FCO, a Ligue 1 soccer team.
"Vitality's ambition is to become an undisputed European leader whose teams participate in all the major professional esports leagues," Nicolas Maurer, CEO of Team Vitality, said in the press release. "The fundraising, along with our partners, will let us accelerate our growth and consolidate our position among the biggest esports brands in Europe."
Team Vitality will be using its new funds to recruit the best players for multiple leagues around the world. It also plans to create an academy dedicated to League of Legends. Vitality already has a League academy team taking part in tournaments in France. The academy being proposed could be a school dedicated to teaching up-and-coming players how to be the next big superstar.
Team Vitality currently fields players in dozens of games including League of Legends, Rainbow Six, and PlayerUnknown's BattleGrounds. Its League team currently sits at the top of the EU LCS after the third week of the Spring Split.