China's VSPN has attracted $100 million in investments. She is going to found an esports research Institute
The organizer of esports events from the “Celestial Empire” Versus Programming Network (VSPN) held a Series B funding round for $ 100 million. Now the company plans, among other things, to build an esports research institute.
According to TechCrunch, the leader of the round was Tencent, which has recently been actively investing in the esports segment. Other investors included Tiantu Capital, Susquehanna International Group and Kuaishou.
VSPN intends to use the money raised to develop a large-scale esports ecosystem both in China and throughout Asia.
We want to open a research institute and an esports culture park, as well as continue our own global expansion. VSPN is building long-term plans and is going to create a sustainable global esports ecosystem.
CEO of VSPN
VSPN will also engage in attracting a new audience, improving the quality of the created esports content and developing the format of short videos.
Today, VSPN is considered one of the largest organizers of esports competitions in China. He has more than 70% of tournaments in the country on his account. In addition to organizing events, the company creates its own content and broadcasts popular Chinese games: PUBG Mobile, Honor of Kings, Peacekeeper Elite, CrossFire, FIFA Online, QQ Speed and Clash Royale.
The last round was the second in the company’s history. For the first time VSPN attracted investments in 2016 — the year of its foundation. Then the round was headed by Focus Media Network.
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