Rewired.GG is a €50 million esports venture fund that was setup to invest in the global growth of Esports. Today the fund announced that it will be further investing €14 million into Team Vitality, making their total investment in Team Vitality to date to €34 million.
The announcement was made during the opening of multi-million euro Team Vitality headquarters in Paris. The headquarters is aptly named V. Hive (or Vitality. Hive) covering an area of over 10,700 sq. ft and also features more than 530 sq. ft of store front right in the bustling heart of Paris. The headquarters is open for everyone and will offer engaging esports discoveries and experiences to anyone who walks in.
Rewired.GG had previously invested €20 million in Team Vitality during the November,2018 investments rounds. With the current total of €34 million going to Team Vitality, this investment will become the largest for any European team to date.
AS for the funds, Vitality announced them to be used for supporting the continued growth of the organisation and realise the dream of becoming world’s first $1 billion esports team. The organisation further plans to expand their brand across India and China, where it will be acquiring new players and launch a network of esports academies to train youths.
The funds will also be used to acquire new players for forming teams in other esports games as well as for setting new line of merchandise globally. Today Vitality also launched its first Team Vitality brand of limited-edition adidas trainers.
Talking to the press, 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.”
Further commenting on the topic, Amit Jain, Principal at Rewired.GG said:
“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.”
Currently Team Vitality have esports teams in Rocket League, CS:GO and FIFA. They are also sponsored by brands such as Adidas, Red Bull and Orange.