Chinese esports solutions provider VSPN (Versus Programming Network) announced that it has raised close to $100M USD in a Series B financing round led by Tencent Holdings. Further investors that participated in the investment include Tiantu Capital, SIG (Susquehanna International Group), and Kuaishou.
Shanghai-based VSPN was founded in 2016 and raised a Series A investment led by Focus Media Network with further financial support by China Jiansheng Sports Industry Fund, Guangdian Capital, and Averest Capital. According to its own statement, the company currently employs more than 1,000 people and is “partnered with over 70% of Chinese esports tournaments,” including premier competitions for Honor of Kings, PUBG, Peacekeeper Elite, CrossFire, FIFA, QQ Speed, and Clash Royale. In addition to its core esports tournament and content production business, VSPN owns and operates branded esports venues in Chengdu, Xi’an, Shanghai, and Seoul.
VSPN plans to use the investment proceeds to improve its esports products, continue building a diverse esports ecosystem, and increase its reach.
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