Gen.G is a premier global e-sports organization that has announced it raised $46 million in funding from a remarkable group of investors. This round of funding was provided by Will Smith (actor), Dreamers Fund (the investment vehicle of Japanese soccer star Keisuke Honda), Dennis Wong (Los Angeles Clippers minority owner), Michael Zeisser (former Chairman of US Investments Alibaba Group), and David Rogier (MasterClass co-founder and CEO). Additional investors include New Enterprise Associates (NEA), Conductive Ventures, Battery Ventures, Canaan Partners, SVB Capital, and Stanford University.
Smith and Honda are going to join two-time NBA Champion and Gen.G Player Management Advisor Chris Bosh in its creative and commercial endeavors. Led by CEO Chris Park and COO Arnold Hur, Gen.G brought together a group of investors that have a passion for sports, entertainment, and e-sports. Gen.G’s board members also include Chairman of the Board Kevin Chou and Vice Chairmen Kent Wakeford and Phillip Hyun.
“We are grateful for the support of a remarkable group of investors that is as diverse as the future of esports itself,” said Park in a statement. “Our partners in this round share Gen.G’s mission to reimagine sports entertainment as only an authentically global esports organization can.”
Gen.G is going to use the funding to expand its global footprint including teams in the world’s top e-sports leagues across the U.S., China, and Korea. Plus the company is going to develop the Gen.G youth e-sports academy program and launch a headquarters location in Los Angeles later this year.
“I am excited that Dreamers Fund, the fund that I co-launched with Will Smith, is now investing in Gen.G,” Honda added. “Esports is not yet big in Japan, but we are seeing tremendous growth there and globally, which is very positive. We decided to invest in Gen. G because of their incredible team and grand vision to become a leader in the space. We truly look forward to working with Gen.G to boost the esports industry around the world.”
Silicon Valley Bank (SVB) is working with Gen.G as a banking partner. SVB also helped Gen.G behind-the-scenes to help find the right investors and counsel for this funding round.
“This is an incredible step for Gen.G and the vision we have for the organization,” added Hur. “With the support of our new investors, we’re excited to bring several priorities to fruition including our LA headquarters, our continued expansion into China, our always evolving player development academy programs and a big priority for us in 2020, which is hosting Dynasty matches in Seoul! There is a lot of work to be done and we are very proud to have these investors on our team.”
Gen.G has had a breakout year as they won world championships in Heroes of the Storm and PUBG. And Gen.G launched a historic all-female Fortnite team — which included Tina Perez (@TINARAES) and Madison Mann (@maddiesuun). Gen.G also named high-profile streamer Kristen Valnicek (@KittyPlays) as Head of New Gaming Initiatives.
To grow internationally, Gen.G acquired its first Chinese team (Clash Royale) and opened a training facility in Seoul, South Korea. And in the first three months of 2019, Gen.G acquired teams in Call of Duty (ranked #1 in the CWL Pro League through March) and Apex Legends.
Gen.G also named Martin Kim as Vice President of Strategic Partnerships. Kim used to work at Major League Baseball where he worked as the director of international business development and marketing.
