Chinese esports company VSPN on Tuesday announced the completion of a multi-million dollar Series B2 financing round, led by Morgan Stanley Private Equity Asia (MSPEA). The funding will be directed towards the firm’s global business expansion and the development of its esports content matrix, the VSPN+.
“We are very excited to receive the investment from MSPEA and complete the Series B2 funding round,” said Dino Ying, the founder and CEO of VSPN. “Esports is the lifestyle and the top trend among the younger generation. We are striving to promote the esports market worldwide and produce more in-depth esports content. After the funding, VSPN plans to develop its business globally. Aside from producing professional esports tournaments overseas, VSPN also aims to formalize the operation of professional esports leagues and develop esports infrastructure to build on the esports ecosystem worldwide. Meanwhile, we will further integrate resources in the esports industry and content matrix centered around VSPN+. We are on a mission to promote positive youth culture and light up the world with esports.”
Ying plans to deliver a speech at the upcoming Tencent Global Esports Annual Summit in Hainan on June 16.
In October 2020, VSPN raised close to $100 million in its Series B funding round led by Tencent, and closed a $60 million Series B+ funding round led by Prospect Avenue Capital in January.
“Over the past 28 years, we have been active investors in China. We are dedicated to supporting outstanding and promising Chinese companies,” Ivan Chan, Executive Director of MSPEA stated in the release. “We are optimistic about esports, a young and booming industry, and we appreciate what VSPN has achieved over the past several years. VSPN has grown into one of the frontrunners in the Chinese esports industry with its strong execution capability and track record of innovation. Meanwhile, we are delighted to partner with VSPN to embark on the journey of esports globalization through our funding, and believe VSPN will become a global leader in the esports industry.”
Over the past six months, VSPN acquired Sicong Wang’s esports production company Banana Gaming & Media, as well as a Chinese multi-channel network Famulei. VSPN has become the biggest and most valuable esports company in China.