Esports Entertainment Group (EEG) has signed a multi-year partnership agreement with Game Fund Partners LLC (GFP) to become a part of its venture capital arm, and a new planned $300m game fund.
EEG will initially invest around $2m worth of its shares into 20% of the general partnership of the fund, becoming an “integral part of working with the management and investment committee for the entity,” a statement from the company read.
As a partner of GFP, EEG will explore new joint projects and investment vehicles in a bid to increase growth in areas such as gaming, data, blockchain, online gaming and joint casino hotel investments.
“We are pleased to be a part of this rapidly growing investment fund that is involved in so many excellent projects in the gaming space and beyond,” said EEG CEO Grant Johnson. “We believe this relationship and investment is just the beginning of our substantial growth in financing and partnering with major projects and sports teams throughout the gaming industry.
“This partnership opens up a new path for substantial growth and added economic firepower for the company. Our strong partnership with their first-class team has already resulted in the development of Esports gambling regulation in Ohio and other states. Working with Game Fund Partners has been rewarding and a source of great opportunity for continued investment.”
GFP Chief Gaming Officer and Managing Partner Jonah Blake commented: “We are very pleased with the integration of our expert teams in the areas of gaming, finance, entertainment and advertising.
“Our work with Esports Entertainment Group has been rewarding and we are now working on and exploring significant opportunities together that we believe will be leading drivers and profit centres for our fund, EEG and the industry overall.”