Misfits Gaming Group has announced the launch of a new company, MSF.IO, which is an esports and gaming-focused seed fund and incubator.
The fund will amount to $10 million (£7.8 million) and aims to help esports and gaming companies “take their business or idea to the next level.”
As well as providing investments, MSF.IO will provide resources, expertise, and contacts to budding companies in gaming and esports. The class of 2020 will have access to an optional incubation period at Misfits Gaming Group’s headquarters in Florida.
Misfits Gaming competes in Riot Games’ LEC, Overwatch League with Florida Mayhem, and Call of Duty League with Florida Mutineers. The organisation operates in both Europe and North America, with locations in Berlin and Boca Raton.
Ben Spoont, CEO and Co-founder of Misfits Gaming Group discussed the launch in a release: “As the first esports and gaming-focused startup incubator and seed fund offering the resources of our caliber in North America, our goal is to create infrastructure for supporting and developing emerging business talent.
“Although there’s plenty of investment at the highest levels of esports, we believe that entrepreneurs and small businesses in the space often struggle and are overlooked by mainstream opportunities for funding. We are tired of waiting for the next big company to emerge in the esports and gaming industries and not be a part of it. We want to help invest in the kind of ideas that will move our industry forward.”
Esports Insider says: It’s interesting to see a company that predominantly competes decide to help others grow, especially when it’s hard for organisations to make a profit and not operate in the red. Nonetheless, this seems like a charitable deed from Misfits Gaming Group.