Technology
Esports Global announces new $50 million fund to support the future of esports — EdTech Innovation Hub
The fund is targeting $50 million, backed by the Alshaya family in Kuwait. It will issue funding to a portfolio of between ten and 15 growing businesses across the world, whose growth could be supported by Esports Global’s network and expertise.
Dave Martin, CEO of Esports Global, explains: “Over the last ten years we’ve seen many changes in terms of how the esports ecosystem is owned, operated and funded.
“There are significant developments in publisher relationships with communities and tournament organisers that show promise: There’s the increasing convergence of sports and esports, the upcoming Olympic Esports Games, major events like the Esports World Cup and new global Intellectual Properties being launched.
“This potential for long-term growth, together with the ecosystem’s improving infrastructure in tech, defence, data and AI, makes for extremely exciting times. But businesses need access to smart capital to give them every chance to succeed – and that’s exactly what we are here to do.
“This fund isn’t just for esports businesses, either; there are innovative solutions in education, technology and sport that can be adapted to meet the needs of esports players, teams, fans and the wider community. So we are delighted that the Alshaya family has identified esports as part of its future.”
Bader Alshaya adds: “Esports is an exciting new addition to our portfolio, and the experience of Chester King and the team at Esports Global is vast in the industry. We look forward to supporting them with our global network.”