Esport News – Team Vitality raises €14M and opens Paris facility
French organisation Team Vitality has received a further €14 million (£12 million) investment from esports venture fund Rewired.GG.
Including the €20 million Rewired.GG invested back in November 2018, Team Vitality has now received €34 million in the last year from the fund. The capital will be used to grow the organisation and pursue an expansion into both China and India.
As well as the investment, Team Vitality has announced the the opening of its headquarters: V.Hive. Now open to the public in Paris, it’s a 10,700 square foot facility with a storefront. Built on three floors, it will feature a streaming booth, gaming house, content production studio, a WebTV studio, and an office. The facility was designed by HKS, which has worked with Dallas Cowboys on its AT&T Stadium.
Nicolas Maurer, CEO of Team Vitality discussed the investment: “In 2013 we started Team Vitality with €10,000. Receiving further backing by Rewired.GG after the initial investment of €20M in November 2018 is a testament to the strength not only of the team but also a comment on the growth of the sector as a whole. This investment will go towards continuing to turn Team Vitality into a global esports brand and we look forward to providing further updates on our future wins as we continue to pursue V for Victory.”
In addition to expanding into new markets, the capital will be used to “acquire new players and to launch new lines of merchandise globally.”
Amit Jain, Principal of Rewired.GG added: “We believe that esports is one of the world’s fastest growing industries today, and the success of teams like Team Vitality show that there is real opportunity for growth in this market. We are well on the way to building one of the world’s first billion-dollar esports teams.”
Esports Insider says: Team Vitality continues to progress on all fronts by reinforcing its presence in its hometown, Paris, and expanding into China and India. We’re curious to see which next game will be the focus of Team Vitality, how it will grow in the future, and the response to the V.Hive.
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