World-leading esports total solutions provider VSPN (Versus Programming Network) announced today that it has raised close to $100 million in a Series B funding round, led by Tencent Holdings. Further investors that participated in the round include Tiantu Capital, SIG (Susquehanna International Group), and Kuaishou, with Lighthouse Capital as the exclusive Financial Advisor for this round of funding.
Founded in 2016 and headquartered in Shanghai, VSPN is a pioneer in esports tournament organization and content creation. Other business segments include esports commercialization and offline venue operation. VSPN brings unique experiences and premium content to global esports enthusiasts.
In 2016, VSPN closed its Series A funding round led by Focus Media Network, joined by China Jiansheng Sports Industry Fund, Guangdian Capital, and Averest Capital. Now, VSPN has become the principal tournament organiser and broadcaster for PUBG MOBILE international competitions, and China’s top competitions for Honor of Kings, PUBG, Peacekeeper Elite, CrossFire, FIFA, QQ Speed, and Clash Royale— totaling 12,000 hours of original content. The company has partnered with over 70% of Chinese esports tournaments, and currently houses more than 1,000 employees in five business divisions.
In addition to its core esports tournament and content production business, VSPN has branded esports venues in Chengdu, Xi’an, and Shanghai. In May, VSPN launched its first overseas venue, V. SPACE in Seoul, South Korea.
“Tencent is glad to support VSPN,” Mars Hou, General Manager of Tencent Esports commented on the funding round, “VSPN’s long-term company vision and leading position in esports production is vital for Tencent to optimise the layout of the esports industry’s development.”
During the 2020 Tencent Global Esports Summit in Hainan, Mark Ren, COO of Tencent Holdings, declared that Tencent would provide more high-quality esports competitions in conjunction with tournament organizers like VSPN. Yunli Zou, Managing Partner of Tiantu Capital, and a spokesperson from Kuaishou also publicly supported the investment round.
“We are delighted to announce this latest round of funding,” Dino Ying, CEO of VSPN said. “Thanks to policies supporting Shanghai as the global centre for esports, and with Beijing, Chengdu, and Xi’an expressing confidence in the development of esports, VSPN has grown rapidly in recent years. After this funding round, we look forward to building an esports research institute, an esports culture park, and further expanding globally. VSPN has a long-term vision and is dedicated to the sustainable development of the global esports ecosystem”
VSPN will focus on building an esports short-form video ecosystem, improving the quality of esports content creation, and reaching more users via different channels. The funding round will provide an opportunity to improve esports products and will enable VSPN to continue to build a diverse esports ecosystem, and ultimately create a new and innovative esports experience.
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Founded in 2016 and headquartered in Shanghai, VSPN (Versus Programming Network) is the leading esports total solutions provider in Asia. VSPN focuses its business on esports organizing, esports content production and distribution, esports commercialization, and offline esports venues. For more information about VSPN, please visit https://global.vspn.com/.
(Image) Source: Press release