During the first month of the new year, The Esports Observer tracked 12 investments raised by esports-relevant companies. Disclosed investments amounted to $198M USD.
Financial terms were not disclosed for all deals highlighted in this article.
VSPN Adds Capital, Acquires Competitor
Chinese esports solutions provider VSPN (Versus Programming Network) closed a $60M Secondary Series B financing round, led by Prospect Avenue Capital (PAC), with additional participation from Guotai Junan International and Nan Fung Group. VSPN revealed that it plans to use the investment proceeds for innovative esports production technologies, developing its esports IP operations, new esports content, and overseas esports businesses. VSPN is also looking to further expand internationally once the global COVID-19 pandemic is over.
Furthermore, VSPN completed its acquisition of Chinese esports solutions provider Banana Gaming & Media, which will retain its current operations and remain an independent subsidiary of VSPN. The company’s founder Sicong Wang will serve as the vice-chairman of VSPN’s strategy committee.
Motorsport Games Goes Public
Racing game developer, publisher, and esports ecosystem provider Motorsport Games went public on the Nasdaq Global Select Market on Jan. 13. The company raised gross proceeds of approximately $69M, selling 3M of its Class