French Esports Team Closes $22.7 Million Investment Round
According to the announcement, Team Vitality plans to use the funding to build out its office and training facility, in addition to expanding its footprint in Southeast Asia and China.
The investment itself, one of the largest in European esports history, came from Kohli’s Swiss-based robotics-focused venture firm Rewired, which recently launched a dedicated esports division, Rewired GG. This marks the first investment from Rewired GG.
“This investment marks a truly significant moment in the five-year history of our team and is a result of the hard work of our players, and the unquestionable loyalty of our supporters,” said Fabien Devide, President and Co-founder of Team Vitality. “We look forward to building on the already great community Team Vitality has established and to welcoming new players and supporters in the future.”
Team Vitality currently fields teams in League of Legends, Call of Duty, FIFA, Formula 1, Rainbow Six: Siege, Halo, Rocket League, and H1Z1. It also recently launched a Counter Strike: Global Offensive team which notably won the DreamHack Open tournament in Atlanta.
This news comes as multiple similar esports teams have raised significant investment rounds in recent weeks. In October, Drake reportedly purchased a stake in 100 Thieves, a Los Angeles-based lifestyle, apparel and esports company. More recently, Michael Jordan made his first major investment in the esports industry, leading a $26 million financing round for aXiomatic, owner of TeamLiquid.