According to Esports Insider, France-based eSports company Team Vitality announced that it has raised €20 million from Tej Kohli, who is a London-based self-made billionaire and philanthropist.
Team Vitality is planning to use the funding to develop “state of the art” training and performance centers. And Team Vitality is planning to expand its footprint in Southeast Asia and China.
This news comes on the heels of Kohli launching a €50 million investment arm to support the growing esports industry in Europe called Rewired GG.
“Esports is the future of both sport and entertainment and Vitality is one of the biggest and most exciting European teams. I’m thrilled to accompany them on their journey, as they look to become the number one esports team in Europe, and ultimately worldwide,” said Kohli. “I look forward to using my forty-years of business and technology experience to assist the management team in building a well-respected, world-class team, which will be a dream for every gamer and supporter to be a part of.”
Last week, Team Vitality became one of the ten long-term partners to be announced as entering the League of Legends European Championship (LEC), which is a competition that used to be known as European League of Legends Championship Series (EU LCS). The company also entered the Counter-Strike: Global Offensive with an all-French roster.
“Team Vitality has always strived to be one of the best esports teams in the world. With Mr. Kohli’s support we are excited to step even closer to achieving our global ambitions,” explained Team Vitality co-founder and CEO Nicolas Maurer. “Team Vitality is set to become leaders in an industry that we believe will soon rival traditional sports in terms of audience and investment.”
Team Vitality is not the only esports company that announced a major funding round this month. This past week, high school esports company PlayVS raised $30.5 million in Series B led by Elysian Park Ventures — which is a private investment group set up by the Los Angeles Dodgers ownership group.
“This investment marks a truly significant moment in the five-year history of our team and is a result of the hard work of our players, and the unquestionable loyalty of our supporters,” added Team Vitality president and co-founder Fabien Devide via Esports Insider. “We look forward to building on the already great community Team Vitality has established and to welcoming new players and supporters in the future.”