Rewired.GG is a €50 million esports venture
fund that was setup to invest in the global growth of Esports. Today the fund
announced that it will be further investing €14 million into Team Vitality,
making their total investment in Team Vitality to date to €34 million.
The announcement was made during the
opening of multi-million euro Team Vitality headquarters in Paris. The
headquarters is aptly named V. Hive (or Vitality. Hive) covering an area of over
10,700 sq. ft and also features more than 530 sq. ft of store front
right in the bustling heart of Paris. The headquarters is open for everyone and
will offer engaging esports discoveries and experiences to anyone who walks in.
Rewired.GG had previously invested €20
million in Team Vitality during the November,2018 investments rounds. With the
current total of €34 million going to Team Vitality, this investment will
become the largest for any European team to date.
AS for the funds, Vitality announced them
to be used for supporting the continued growth of the organisation and realise
the dream of becoming world’s first $1 billion esports team. The organisation
further plans to expand their brand across India and China, where it will be
acquiring new players and launch a network of esports academies to train
The funds will also be used to acquire new
players for forming teams in other esports games as well as for setting new
line of merchandise globally. Today Vitality also launched its first Team
Vitality brand of limited-edition adidas trainers.
Talking to the press, CEO of Team Vitality,
Nicolas Maurer said:
“In 2013 we started Team Vitality with
€10,000. Today Team Vitality has built amazing teams that regularly win
tournaments all over the world, and a strong brand that is backed by our
amazing and dedicated fans and our premium sponsors. Receiving further backing
by Rewired.GG after the initial investment of €20M in November 2018 is a
testament to the strength not only of the team but also a comment on the growth
of the sector as a whole. This investment will go towards continuing to turn
Team Vitality into a global esports brand and we look forward to providing
further updates on our future wins as we continue to pursue V for Victory.”
Further commenting on the topic, Amit Jain,
Principal at Rewired.GG said:
“Any industry with an audience that’s
growing rapidly into hundreds of millions is hugely exciting and esports is no
exception. We’ve seen the current esports trend many times before in the tech
sector: first the number of eyeballs grows exponentially, and then full
monetization comes later. We believe that esports is one of the world’s fastest
growing industries today, and the success of teams like Team Vitality show that
there is real opportunity for growth in this market. We are well on the way to
building one of the world’s first billion-dollar esports teams.”
Currently Team Vitality have esports teams
in Rocket League, CS:GO and FIFA. They are also sponsored by brands such as
Adidas, Red Bull and Orange.
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