Team Vitality Raises €20 Million in Investment for Esports Expansion
Team Vitality, a prominent esports organization accepted into Riot Games’ League of Legends European Championship (LEC), has secured a €20 million investment for future expansion, as reported by tech news site VentureBeat. The investment was later confirmed by Team Vitality themselves through a statement on Twitter.
Entrepreneur Tej Kohli Backs Vitality’s Expansion
The investment comes from Tej Kohli, a well-known entrepreneur who has previously invested in robotics, biotechnology, financial technology, and artificial intelligence. Kohli has also shown a keen interest in the esports sector according to his website. This particular investment was made through Rewired.gg, an esports venture company and the esports division of robotics and venture studio Rewired.
Significant Milestone for Vitality
Team Vitality believes that this investment is the largest ever made into a European esports organization. They see esports as the future of both sport and entertainment. Kohli expressed his excitement to accompany Vitality on their journey to become the number one esports team in Europe and worldwide.
Expansion Plans and Future Growth
The €20 million investment will be used to develop state-of-the-art facilities, including a new store, office, and training centers. Additionally, Vitality has plans to expand into the Chinese and Southeast Asian markets, as they believe Southeast Asia is the fastest-growing region for esports. However, there was no specific mention of expansion into new leagues or games as part of this investment.
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