Sources: Dodgers' VC Arm Leads Esports Investment
Elysian Park Ventures, the VC arm of the Dodgers, is leading a $30M Series B investment in L.A.-based scholastic esports startup PlayVS, according to sources. PlayVS is expected to announce the funding tomorrow. Team owners are increasingly investing as a side business, but leading a round is highly unusual. In addition to the Dodgers, Adidas is investing in this round.
Founded last year, PlayVS hopes its software platform will ultimately become the league for organized high school esports. In April, it secured a partnership with the National Federation of State High School Associations. It is currently running a test season involving schools in five states for Riot Games’ “League of Legends” title. With the new funding, it will expand into seven additional states and three more game titles. Schools and individuals pay monthly per-player fees to join.
The PlayVS investment idea emerged out of the Dodgers investment accelerator, Global Sports Venture Studio. But the investment is through Elysian, not the Studio. The Series B round comes quickly on the heels of PlayVS’ June Series A round, which included the 49ers, Chargers OT Russell Okung, Jets OT Kelvin Beachum and former NBAer Baron Davis.
For more coverage of the business of esports, visit our partners, esportsobserver.com.