The esports world just got a little bigger. Vision Esports L.P., the folks that are the largest shareholders on the esports team Echo Fox, the 37-year-old Twin Galaxies, and the ever-expanding Vision Entertainment, just announced that it closed a $38 Million capital raise led by Evolution Media, the investment firm backed by Creative Artists Agency (CAA) and private equity fund TPG Growth, as well as some of the most renowned organizations and athletes in professional sports, including Odell Beckham Jr.
That’s a mouth-full. In other words, the entity behind the famously Rick Fox founded high-ranking behemoth of a esports team, just got a major boost. The company behind the H1Z1 Pro League and has handled video game records since 1981 is dusting off the upholstery. Additionally, the production team behind last year’s “H1Z1: Fight for the Crown”, as well as five weekly shows broadcasted on Facebook Live, which include “H1Z1 Tauntfest” and “Game Talk Live” just got a pick-me-up.
(Full Disclosure: Twin Galaxies is owned and operated by Vision Venture Partners, managed by Vision Esports L.P., under the care of Jace Hall.)
"At Vision Esports 'We Play to Win' and we know that esports are Pro Sports, with the same ecosystem components and business drivers," said Stratton Sclavos, Managing General Partner, Vision Esports. "Our investors are some of the smartest and most accomplished names in sports and media and they share our passion, committing not only capital but also their organizational resources and relationships in our quest to change the professional sports landscape."
Sclavos, along with ex-game-developer-turned-esports-mogul Jace Hall and former MGM Resorts Executive Chris Nordling head up Vision Esports as General Partners. Vision Esports is all too familiar with the traditional sports joining their mission. Stratton Sclavos had a substantial stake in Shark Sports & Entertainment,which was the parent company behind the San Jose Sharks, acting as Managing General Partner and CEO between 2001 and 2015. Former NBA all-star Rick Fox is the founder of Echo Fox and currently a part of Vision Venture Partners. Former NBA pro Jared Jeffries, who has played for the Washington Wizards, New York Knicks, Houston Rockets and Portland Trail Blazers, joined the Echo Fox team back in July 2017 as President. Prior investors to the company include the New York Yankees, as well. So, Vision Esports dealing with professional, physical sports is nothing new.
Today’s addition includes Odell Beckham Jr. (NFL Wide Receiver, New York Giants), NBA Golden State Warrior Kevin Durant’s own startup up investment company (aptly named Durant Company), and the MLB team St. Louis Cardinals.
"We have been following the esports sector for several years," said Dan Good, VP Business Development, St. Louis Cardinals. "In the last year, we have gotten to know the team at Vision Esports and felt this was an exciting investment opportunity. In addition to the sector's growth potential, we were impressed with Vision's depth of experience that is applicable to the new esports ecosystem, including Stratton Sclavos' experience with the San Jose Sharks; Jace Hall at Warner Brothers Interactive; Chris Nordling at MGM Resorts and Mike Mossholder at UFC."
While the charge was led by Evolution Media, additional investors in this massive event include Shamrock Holdings, the private investment arm of the Disney family; Seth Bernstein Capital Management; Simon Tikhman of First Access Entertainment and several other high-profile professional athletes and entertainers.
"Evolution Media has spent several years advising and analyzing companies in the esports sector, and we're particularly excited to partner with a world class management team led by Stratton, who we've known since his days running Strikeforce and the San Jose Sharks," said Rick Hess, founder and co-managing partner of Evolution Media. "Esports is one of the highest growth sectors within all media and entertainment. We couldn't be more bullish on the space and Vision's market position."
While this was only announced today, this can only be good news for esports as a whole. The embrace of traditional physical sports on the digital esports is going to ease the transition into mainstream much quicker and easier as time goes.
