British grassroots esports organisation LDN UTD announced that iSportconnect Founder and CEO Sree Varma has become a minority investor.
Financial terms of the investment were not disclosed at the time of publication.
LDN UTD was launched in 2019 as an initiative to use esports and gaming as a way to draw attention to critical social issues raising from suicide prevention to employment opportunities. According to the organisation, LDN UTD has amassed 384,000 viewers online across physical and online events and has a League of Legends team competing in the UK Esports League (UKEL).
Oliver Weingarten, CEO of LDN UTD, spoke on the investment in a release: “I am delighted to have Sree on board to support LDN UTD and our values. From the outset of our discussions, it was clear that Sree and I were aligned on how esports can be used as a positive mechanism to address societal issues at the same time as building out and engaging the grassroots gaming community.
“I’ve known Sree and been involved in iSportconnect events for a number of years, and have huge respect for his entrepreneurial skill set. I look forward to working collaboratively with Sree to build out LDN UTD’s investor and partnership roster; and also to see how he fares in a game of FIFA!”
Founded in 2010, iSportconnect is a global private network of sports business executives. In 2017, Varma launched iSportconnect Capital, an investor network providing opportunities for its members within the sport and leisure sector.
Varma commented on his involvement: “By using esports to better the community LDN UTD are crafting a fantastic message that really resonates with the general public. I am delighted to become a part of the organisation as I believe there is a definite need for a company such as this, and I see huge potential for growth over the coming years, particularly as esports becomes a more central cog in the sporting world. The management team of Olly and newly appointed Chief Gaming Officer, Jacob Harrison, are poised to deliver on LDN UTD’s values, and I look forward to contributing.”
Esports Insider says: LDN UTD hit the ground running and has wasted no time in utilising strong business connections like Sree Varma and Jacob Harrison. We expect to see more investors and brand partners join the ranks as LDN UTD continues its philanthropic esports efforts.