Chinese organisation Victory Five has closed its Series A round, raising over 100M RMB (£11 million).
The organisation has also partnered with Shenzhen Media Group to launch its LPL home venue in the Guangdong-Hong Kong-Macao Greater Bay Area.
Multiple esports associations and companies attended the press conference where Victory Five announced the venture, including TJ Sports, Tencent, Macau E-sports Federation, and Esports Association Hong Kong.
At the press conference, the organisation explained that it is aiming to enhance how competitive it is and continue its business expansion, with the aim of becoming the top esports club based in the Guangdong-Hong Kong-Macao Greater Bay Area.
With the launch of the collaboration between Victory Five and Shenzhen Media Group, they will jointly establish a LPL home venue in the Guangdong-Hong Kong-Macao Greater Bay Area. The cooperation aims to accelerate the development of the local esports industry and fill the gap of the esports industry in Southeast China.
Mario Ho, Director of Shenzhen Weiwu Esports Technology Ltd commented on the partnership: “The reason for us to partner with Shenzhen Media Group is that we are looking forward to further popularizing esports in Shenzhen with the help of its rooted local influence. Our esports club has an ultimate dream which is establishing our base in Shenzhen and becoming the pride of Shenzhen Esports.
“To achieve our goals, we definitely want to find the strongest partner. It is no doubt that Shenzhen Media Group is our best choice because it has such a great ability to help us promote esports, especially its influence on young people.”
Esports Insider says: Although we heard news about esports projects launching in the Guangdong-Hong Kong-Macao Greater Bay Area half a year ago, we haven’t seen much real progress. The successful financing of Victory Five and the development of a home venue can be considered as a big step for the area.