Echo Fox‘s ownership group Vision Esports has raised $38 million (£27,200,400) after a funding round saw major celebrities invest.
The esports organisation, owned by Rick Fox, received backing Kevin Durant (along with his business partner Rich Kleiman), Odell Beckham Jr., the St. Louis Cardinals, Shamrock Holdings, Seth Bernstein Capital Management, and First Access Entertainment’s Simon Tikhman.
The funding round was organised and led by Evolution Media, a firm that is backed by the Creative Artists Agency and TPG Growth. Vision Esports owns and invests in a number of esports properties, first being formed by Stattos Sclavos (a former minority owner in the San Jose Sharks), Jace HGall, and Chris Nordling. The organisation owns competitive gaming organisation Echo Fox, Twin Galaxies, and Vision Entertainment.
Dan Good, Vice President, St. Louis Cardinals explained why the company decided to back Vision and subsequently, Echo Fox. “We have been following the esports sector for several years. In the last year, we have gotten to know the team at Vision Esports and felt this was an exciting investment opportunity.”
“In addition to the sector’s growth potential, we were impressed with Vision’s depth of experience that is applicable to the new esports ecosystem, including Stratton Sclavos’ experience with the San Jose Sharks; Jace Hall at Warner Brothers Interactive; Chris Nordling at MGM Resorts and Mike Mossholder at UFC,” Good continued.
This funding comes in addition to the investment Echo Fox received from the New York Yankees last October. Rick Hess, Founder, Evolution Media discussed this recent venture from Vision. “Evolution Media has spent several years advising and analyzing companies in the esports sector, and we’re particularly excited to partner with a world class management team led by Stratton, who we’ve known since his days running Strikeforce and the San Jose Sharks. Esports is one of the highest growth sectors within all media and entertainment. We couldn’t be more bullish on the space and Vision’s market position.”
Esports Insider says: Echo Fox can only benefit from this additional funding, and it’s interesting to see more big time athletes getting involved – no matter the capacity – in the esports industry. We’ll be keeping an eye on the organisation to see where it goes next.
