Rewired.GG Makes Europe’s Largest Ever esports Team Investment
Rewired.GG, the €50m esports venture fund that invests in the global growth of esports, is delighted to announce that it has invested a further €14 million into Team Vitality, taking its total investment to date to €34 million. Today also marks the opening of the new multi-million euro Team Vitality headquarters in Paris, called V.Hive, which will be open to the public. In a world’s first for an esports team, the 10,700 sq ft V.Hive has more than 530 sq ft of store front in the bustling heart of Paris, and will offer engaging esports discoveries and experiences to anyone who walks in.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191106005183/en/
Team Vitality Counter Strike players (from left to right): Alex 'ALEX' McMeekin, Cédric 'RpK' Guipouy, Mathieu 'ZywOo' Herbaut, Dan 'apEX' Madesclaire. (Photo: Business Wire)
Team Vitality is one of the biggest esports teams in Europe and boasts some of the world’s top esports players and coaches. It is one of only ten European esports teams in the League of Legends European Championship franchise; and has recently won the 2019 World Championship for Rocket League, won the 7th season of the prestigious ECS tournament for Counter-Strike:Global Offensive and took 3rd place in the 2019 FIFA World Championship. It is also one of only a few esports teams with blue chip sponsors such as Orange, Renault, Red Bull and adidas.
Rewired.GG forecasts that esports will rival traditional sports such as soccer and basketball and will be a major investment category for institutional investors, funds and investment managers. By 2020 it is estimated that the monthly global esports audience size will be nearly 600 million*, equivalent to the current global audience of the English Premier League.
Today’s investment, along with the €20 million that Team Vitality received from Rewired.GG in November 2018, is thought to be the largest investment into a European esports team to date. The Team, which was founded in 2013 with €10,000, aims to be one of the world’s first $1 billion esports teams.
The funds will be used to support the continued growth of Team Vitality as the team pursues further expansion across India and China, where it is acquiring new players and launching a network of esports academies. Funds will also be used to acquire new players and to launch new lines of merchandise globally: as well as opening V.Hive, the team has also today launched its first Team Vitality brand of limited-edition adidas trainers.
As with any major sport, the business of esports is based on media rights, advertising, prize money, merchandise, sponsorship and partnerships. Revenue from these are growing exponentially.
In 2017 it was estimated that esports generated $655 million in annual revenue, including 38% from sponsorships and 14% from media rights. By 2022, it is forecast that media rights will reach 40% of total esports revenue and that total global esports monetization will reach $3bn.*
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.”
Amit Jain, Principal at Rewired.GG commented:
“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.”
Footnotes and References
Video of esports world champion, Rocket League player Kyle ‘Scrub Killa’ Robertson, and esports super-coach Mike ‘Gregan’ Ellis, are available to embed into stories relating to this release, using these links:
Scrub Killa: https://youtu.be/LSg-rwTeBHk
Images are available to download here and must be attributed to: Team Vitality: https://drive.google.com/drive/folders/1Ol4_J_pdo8S7c6W-YZ8tkgTrfOFPd4Xd
Rewired.GG is an esports venture fund investing in the talent and ideas that are driving the global growth of esports. In November Rewired.GG 2018 backed European esports leader Team Vitality with €20m of investment to create a global esports brand. The investment thesis of the Rewired.GG esports venture fund is that esports is at an exciting tipping point. The NFL earns around $50 per fan, but that number for esports is only $3.20*. Rewired.GG predicts that this upside potential revenue growth per fan combined with rapidly growing global audiences with rapidly-growing spending power, will generate significant future returns.
About Team Vitality
Team Vitality is an international esports organisation that was founded by Nicolas Maurer and Fabien Devide in 2013. The team has players from ten different nationalities and boasts some of the biggest players in the world, including the world No.1 Fifa player, world No.1 CS:GO player, and the world champion Rocket League squad. Team Vitality players compete in a portfolio of 9 games with 10 competitive teams. Team Vitality's main League of Legends roster competes in the League of Legends European Championship (LEC), which they joined after purchasing Gambit Gaming's spot. They are sponsored by Orange, Red Bull, Renault and Adidas.
To request interviews please use the contact details below:
Helen Tarbet / Simon Compton / Kim van Beeck / Hannah Ratcliff (Buchanan Communications)
+44 207 466 5000
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Optimum Reassurance Inc. Selects Moody's Analytics Solution for IFRS 1727.5.2020 11:35:00 CEST | Press release
Moody’s Analytics, a global provider of financial intelligence, today announced that its software has been selected by Optimum Reassurance Inc., a leading privately-owned reinsurance company in Canada. Optimum Reassurance Inc., and affiliates of Optimum Group, will use the Moody’s Analytics RiskIntegrity™ for IFRS 17 solution to meet the IFRS 17 reporting needs of their life insurance and reinsurance operations in Canada, the US, the Caribbean, and Europe. Designed to support the requirements of actuaries, and accounting, finance, and IT professionals, the RiskIntegrity for IFRS 17 solution comes with all the capabilities required to efficiently implement the new standard. Available as a software-as-a-service solution, it integrates seamlessly with an insurer’s existing infrastructure, connecting data, models, systems, and processes between actuarial and finance functions. “IFRS 17 is significantly changing how insurers and reinsurers account for insurance contracts,” said Serge Goulet
Key Leadership Appointments Support Syngenta’s Continued Investment and Commitment to European Seeds Business27.5.2020 10:00:00 CEST | Press release
Syngenta has announced three strategic leadership appointments supporting the continued growth and investment in its European and global Seeds business. Gaël Hili, currently Crop Protection Head East Europe, is appointed Regional Director for Europe, Africa and Middle East (EAME) Seeds, taking over leadership of the region from Justin Wolfe, who has served as Regional Director EAME Seeds since 2018 and is appointed Regional Director for North America Seeds. “The important European seeds market is a must-win for Syngenta. Under Justin’s leadership, we have created a specialized Seeds organization, enabling us to bring growers the deep agronomic advice they need,” said Jeff Rowe, President Syngenta Seeds. “We have significantly increased the size of our grower-facing commercial and technical teams, and have expanded our corn and sunflower portfolio.” Gaël Hili joined Syngenta in 2017 as Head Europe East, and under his leadership, the team grew market share across both the Seeds and Crop
Jefferies to Hold Global Coronavirus Relief Charity Day Today Dedicated to the Memory of Peg Broadbent27.5.2020 09:00:00 CEST | Press release
Jefferies announced that it is holding its Global Coronavirus Relief Charity Day today. The firm and its staff will contribute to global charities and relief efforts to assist those suffering from the devastation caused by the Coronavirus global pandemic and will offer investors around the world the opportunity to join these efforts by trading with Jefferies. Jefferies will dedicate this entire effort to their late CFO Peg Broadbent, who was a victim of this terrible disease. As previously announced, Jefferies will donate net commissions from trading today, Wednesday, May 27th, for all global trading in equities, fixed income and foreign exchange by the firm’s clients. In addition, Jefferies as a firm will donate $1 million directly, and all 3,822 employees worldwide will be given the opportunity to donate to these efforts. These contributions will be allocated to a series of charities on the front lines in fighting this ongoing global pandemic and providing urgently needed relief for
REPLY: Gartner Names Reply a Visionary in the 2020 Magic Quadrant for Warehouse Management Systems27.5.2020 09:00:00 CEST | Press release
Gartner, a leading IT research and strategic consulting firm, has positioned Reply, specialised in the design and implementation of solutions based on new communication channels and digital media, among the Visionaries in their “Magic Quadrant for Warehouse Management Systems” 2020. The report evaluates 15 vendors, focusing on warehouse management systems, software applications that support companies in optimising the execution of warehouse or distribution centre processes. Reply has been named in the Visionaries quadrant thanks to its proprietary suites: https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.reply.com%2Flea-reply%2Fen%2F&esheet=52225582&newsitemid=20200527005029&lan=en-US&anchor=LEA+ReplyTM&index=1&md5=25068938af51b5eec2b816283a93627b LEA ReplyTM and https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.reply.com%2Fclick-reply%2Fen%2F&esheet=52225582&newsitemid=20200527005029&lan=en-US&anchor=Click+ReplyTM&index=2&md5=074a995de316106a29d
MILSPED GROUP Relies on the Shippeo Platform to Meet the Growing Real-time Transportation Visibility Needs of Its Customers27.5.2020 09:00:00 CEST | Press release
Milšped, a leading international transport and logistics group, has chosen Shippeo, the European leader in supply chain visibility, to track in real-time all of its FTL and LTL operations operated by both its own fleet and its subcontracting partners. The large expertise of Shippeo in managing complex LTL operations in Europe has been a key decision criterion for Milšped to adopt the visibility platform. Milšped Group provides numerous integrated services, including customs clearance and brokerage, organization of international and domestic transportation and distribution, as well as warehousing solutions. The Serbian group has a strong presence throughout the Balkans as well as in Germany, Russia, China and the USA. Deputy Director for international transport Marko Cavoski is thrilled to be working with Shippeo. It is part of their strategy to invest in innovative solutions to lead in customer satisfaction. “As a 3PL, we work with more than 580 subcontractors on well over 200,000 orde
SmartStream Extends Public API to Promote Access to Collateral Management Technologies27.5.2020 09:00:00 CEST | Press release
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today extended its Public API (Application Programming Interface) for collateral management, to enable its clients with faster access technology to better service their individual business needs. The approach has been taken to deliver a Public API which allows clients to have direct programmatic access to SmartStream’s TLM Collateral Management solution. This helps to lower the total cost of ownership, provides backward compatibility and future-proofs the solution for new operational requirements, with minimal disruption to the clients’ business. TLM Collateral Management has extended the rich functionality of its Public API to include collateral movements notifications. The technology has been designed to provide collateral movement and settlement views for the early indication of collateral fails. Other functionality includes, but are not limited to, workflow automation and agreement u