Tech Billionaire Tej Kohli Launches €50 Million European Esports Initiative
Self-made tech entrepreneur Tej Kohli has announced the launch of an esports investment arm that will focus on European esports. With €50 million committed funds, the initiative should help grow the esports sector in Europe.
Helping esports thrive on this side of the Atlantic
The London-based businessman will establish a new investment arm called Rewired GG to support future esports projects in Europe. The fund will be part of the existing Rewired venture studio, which focuses its investments on AI start-ups and robotics firms.
“Esports has huge potential and could rival traditional sports like football, tennis, and basketball in terms of cultural impact and viewing figures,” said Kohli in a statement. “I have seen first-hand through my son the passion many young people have for the sport and the growing professionalism of the teams, players and commercial partnerships.”
With the goal to build “a world-class esports team,” Kohli is injecting fresh capital in the already fast-growing industry of esports.
“I believe that with the right mentoring and investment, Europe will soon play host to the best players, teams and commercial opportunities in global esports,” Kohli added in his statement. “Esports is the most disruptive innovation in world sports, and I am excited to be able to help it thrive this side of the Atlantic.”
To help the new endeavor succeed, Esports Insider’s managing director and co-founder Sam Cooke will step in as an adviser to the fund.
“I am really excited to see esports investment in Europe looking to catch up with those already seen in America and across Asia,” Cooke commented. “There is so much European potential in this developing sector, from individual players to whole teams, and the establishment of an investment arm like Rewired GG goes to show that there is now real confidence in this potential.”
Esports continues to attract high-profile players from various industries
With its exponential growth, the industry has attracted quite a few well-known personalities from a variety of fields.
Recently, Michael Jordan joined the club by investing in Team Liquid’s parent company, for example. He followed the likes of Jennifer Lopez, Shaquille O’Neal, and Fernando Alonso, who got involved with esports in the past few years.
Entertainment personalities, however, are not the only kind of celebrities jumping on the esports bandwagon. Dallas Mavericks owner and famous entrepreneur Mark Cuban entered the field back in 2015 via Unikrn.
All these big-name personas getting involved with esports shows that the industry’s success has been resonating to a wide area. Kohli joining the fray further proves there’s immense potential in the market.