Esports Entertainment Group, Inc. said it signed a partnership agreement with Game Fund Partners LLC to become a part of their Venture Capital Arm and a new planned US$300 million game fund.
As part of the new multi-year agreement, the company will initially invest around US$2 million worth of EEG shares into 20% of the General Partnership of the fund and will become an integral part of working with the management and investment committee for the entity.
EEG chief executive officer Grant Johnson said: “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. We believe this relationship and investment is just the beginning of our substantial growth in financing and partnering with major projects and sports teams throughout the gaming industry.
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“This partnership opens up a new path for substantial growth and added economic firepower for the company. Our strong partnership with their first-class team has already resulted in the development of Esports gambling regulation in Ohio and other states. Working with Game Fund Partners has been rewarding and a source of great opportunity for continued investment."
Exploring new JV projects
As a partner of Game Fund Partners, Esports Entertainment will explore several new joint projects and investment vehicles to help fuel rapid growth for the company in the areas of gaming, data, blockchain, online gaming and joint casino hotel investments.
GFP Chief Gaming Officer and Managing Partner Jonah Blake stated: "We are very pleased with the integration of our expert teams in the areas of gaming, finance, entertainment and advertising.
“Our work with Esports Entertainment Group has been rewarding and we are now working on and exploring significant opportunities together that we believe will be leading drivers and profit centers for our fund, EEG and the industry overall."
Marc Kasher, Chief Investment Officer of Game Fund Partners added: ”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.
“We are on the forefront of building a significant company together that I believe will be a leader in gaming and a new metaverse. 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.”
Esports Entertainment Group now includes GG Circuit, EGL, Landuel, Lucky Dino, Bethard, Helix Centers, VIE, Argyll Entertainment, SportNation as well as efforts across the world in gaming centers, cryptocurrency mining and partnerships with major sports teams.
Game Fund Partners
Game Fund Partners and their "New Game Fund" invests in gaming, Esports and Media Ventures worldwide, including, but not limited to, premium content, gaming studios, game royalty investments and developers (mobile, subscription, premium) Esports infrastructure, blockchain gaming, metaverse software, technology and intellectual property.
It specifically targets investments in fast-growing companies in video games, esports, online gambling and entertainment companies.
The company also currently has an interest in major casino projects where gaming and video game technology is a leading factor.
Game Fund Partners is made up of a team of leading industry experts in the area of finance, gaming, fund management, blockchain and cryptocurrency, entertainment, news and advertising.
Its continued core objective is to invest in opportunities that capitalize on the proliferation of interactive entertainment and the rise of a digital social existence (metaverse and web 3).
The Fund Manager, now along with EEG, comprises a team and advisors that combines knowledgeable professionals and luminaries in their fields.
The team also includes top gaming expert Lance Mudd and a number of additional legal team members, investment bankers, accounting and financial professionals.