French-based esports organisation Team Vitality has had a successful week as the company has announced that it has received an additional €14 million in investment from the esports venture fund Rewired.GG.
These funds are in addition to the €20 million that the company handed to the French team back in November 2018, taking the total level of investment in the team by fundholders to €34 million in just shy of one year.
Team Vitality have raised these funds, in the main, for two different purposes, firstly it will be used to help grow the organisation at local and national level and secondly, the funds will also be used to help expand the team into the key esports markets of China and India, both with populations of over 1 billion people and masses of esports market development potential.
The team has also announced that a small amount of the invested cash will be set aside to ‘acquire new players and to launch new lines of merchandise globally’. This is in addition to the four senior staff additions the company made back in May 2019.
Started with €10,000
Speaking about this secondary cash investment, CEO of Team Vitality Nicolas Maurer stated:
“In 2013, we started Team Vitality with €10,000. Receiving further backing by Rewired.GG after the initial investment of €20 million in November 2018 is a testament to the strength, not only of the team, but also a comment on the growth of the [esports] sector as a whole.
“This investment will go towards turning Team Vitality into a global esports brand and we look forward to providing further updates on our future as we pursue V for Victory.”
Also commenting on the investment, Principal of Rewired.GG Amit Jain expressed his belief that the second level of investment would prove to be a lucrative one:
“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.”
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Team Vitality Esports Facility V.Hive Opens in Paris
Just a few months after announcing that the company would have its official residence as the Stade de France in Paris, allowing its players and coaches access to the stadium mental and physical coaches, plus its training facilities, Team Vitality has also announced this week the opening of brand new premises in Paris.
The V.Hive is the team’s new HQ in Paris and is now open to the public. The new facility was designed by HKS, who played a lead role in developing the extensive esports suites and facilities at the Dallas Cowboy’s brand new AT&T Stadium.
V.Hive offers a gaming house, a streaming booth, a studio for content production, a WebTV studio as well as office space across its 10,700 square feet. It is a three-storey building with a ground-level store front.
It is not yet known what impact this new building will have on the future of Team Vitality at the Stade de France.
Images courtesy of Team Vitality