Gen.G Esports, a global esports organization that fields teams in League of Legends, PUBG, Clash Royale and Heroes of the Storm, recently closed a $46 million fundraising round with participation from Keisuke Honda’s Dreamers Fund, Stanford University, Will Smith, Dennis Wong, and others.
According to the announcement, the additional capital will go towards supporting Gen.G’s ongoing expansion across the globe, the development of Gen.G’s esports academy program and the launch of the organization’s Los Angeles headquarters in July 2019.
“We are grateful for the support of a remarkable group of investors that is as diverse as the future of esports itself,” said Gen.G COO Arnold Hur. “Our partners in this round share Gen.G’s mission to reimagine sports entertainment as only an authentically global esports organization can.”
This is another instance of major brands and celebrities participating in an esports organization’s fundraising round. Most recently, rap music legend Drake teamed up with former Yahoo CEO Marissa Mayer to invest in Players’ Lounge, an amateur esports betting site based out of New York City.
The round also included investments from David Rogier, Michael Zeisser, New Enterprise Associates (NEA), Conductive Ventures, Battery Ventures, Canaan Partners and SVB Capital.