Esports Entertainment Group (EEG) has entered into a partnership with Game Fund Partners to become part of its venture capital arm, and a planned $300m (£217.6m/€253.4m) game fund.
As part of the agreement, EEG will invest an estimated $2m-worth of company shares into the 20% fund’s general partnership, as well as being involved in Game Fund Partners’ management and investment committee.
Through its involvement, EEG aims to explore several new projects and investment vehicles to accelerate its growth in sectors such as gaming, data, blockchain, igaming and joint casino-hotel investments.
“We are pleased to be a part of this rapidly growing investment fund that is involved in so many excellent projects in the gaming space and beyond,” EEG chief executive Grant Johnson commented.
“This partnership opens up a new path for substantial growth and added economic firepower for the company.”
Game Fund Partners is an vehicle established to invest in gaming, esports and media businesses around the world. It already holds interests in a number of unnamed casino projects, where gaming and video game technology is a key element.
“Our long-term partnership and the opportunity we have in working together with Esports Entertainment Group is a key to our continuing strategy of recruiting and involving the very best talents across the gaming and finance ecosphere,” said its chief investment officer Marc Kasher.
“EEG is a leader in gaming software and online gambling as well as investments in cryptocurrency. We see a number of extremely attractive financial opportunities in continuing and future projects with them.”
