Leading esports total solutions provider VSPN announced today that it had closed a $60 million Series B+ funding round, joined by Prospect Avenue Capital (PAC), Guotai Junan International, and Nan Fung Group. Lighthouse Capital continues to act as the Exclusive Financial Advisor for this round of funding.
The proceeds will be expended on innovative technologies in esports production, deepening the layout of esports IP trends and operations, expanding the creation of new esports products and content, and branching out VSPN’s overseas esports services. In October 2020, VSPN secured a Series B funding round, led by Tencent Holdings and joined by Tiantu Capital, SIG (Susquehanna International Group), and Kuaishou. Previously, VSPN closed the Series A funding round, led by Focus Media Network, Sequoia Capital China, and CMC (China Media Capital) with further financial investments by China Jiansheng Sports Industry Fund, Guangdian Capital, and Averest Capital.
“We are very excited that this round of funding was successfully closed at the beginning of 2021,” said Dino Ying, Founder, and CEO of VSPN. “The esports industry is through its nascent phase and is entering a new era. In this coming year, we at VSPN look forward to showcasing diversified esports products and content to more business partners and fans throughout the industry. We are counting the days until the pandemic is over and we hope that we can make fast and steady progress in expanding VSPN internationally, participating in the making of global esports standards, and supporting the development of a sustainable esports ecosystem world-wide.”