Vision Esports, the conglomerate launched by former Sharks co-Owner Stratton Sclavos, former NBAer Rick Fox and venture capitalist Amit Raizada, has just closed on a $38M investment from a "host of investors" led by CAA and TPG Growth joint venture Evolution Media, according to Jonathan Shieber of TECH CRUNCH. Warriors F Kevin Durant and Rich Kleiman’s Durant Company also "came in to back Vision Esports" along with Shamrock Holdings -- the personal investment vehicle for the Walt Disney family; the MLB Cardinals; and Giants WR Odell Beckham Jr. Through the new investment, Vision Esports will take a "majority position in the Echo Fox franchise that was Fox’s brainchild and launched the group’s journey to the center of the esports earth." The conglomerate is also going to include Twin Galaxies, which began in '81 as the "ultimate source for video game world records, stats, and player analytics and is now creating in esports leagues in conjunction with game publishers." Finally, the group "used some cash to take a majority position in Vision Entertainment, which produces esports related stories and livestreams for esports events." Now all of the various esports properties will "sit under one roof and the team at Vision Esports can work on rolling out their first league, a battle royale-based competition the Twin Galaxies’ H1Z1 Pro League," which will begin its inaugural season in April '18 (TECHCRUNCH.com, 2/22). ESPN.com's Jacob Wolf noted Echo Fox "received investment" from the Yankees in October. They were also "awarded a franchise slot" in the North American League of Legends Championship Series the same month. It has participated in that league since its "initial buy-in" (ESPN.com, 2/22).
For more coverage of the business of esports, visit our partners, esportsobserver.com.
