Tech billionaire Tej Kohli invests €50 million in Esportshttps://indianexpress.com/article/technology/gaming/tech-billionaire-tej-kohli-invests-e50-million-in-esports-5477529/

Tech billionaire Tej Kohli invests €50 million in Esports

Technology entrepreneur Tej Kohli has announced a €50 million investment arm called Rewired GG, possibly the largest investment in Europe’s esports history.

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Team Vitality, the French esports organisation, has already received €20 million from Rewired GG.

Technology entrepreneur, businessman, and philanthropist, Tej Kohli, after having made billions in tech, has now zeroed in on the emerging esports arena. Kohli has announced a €50 million investment arm called Rewired GG, possibly the largest investment in Europe’s esports history.

Reportedly, the investment arm plans to create a world-class esports team, while developing individual players and games, and exploring commercial opportunities. The fund in question is a new arm of Kohli’s venture studio Rewired, which usually invests in AI or robotics based startups.

Team Vitality, the French esports organisation, has already received €20 million from Rewired GG. The investment is being planned for equipping training and performance centres, a store, and an office with state-of-the-art facilities.
“Esports has huge potential and could rival traditional sports like football, tennis, and basketball in terms of cultural impact and viewing figures,” gamesindustry.biz quoted Kohli.

Also read: Will Indian Esports industry measure up to the Chinese?

Esports Insider quoted Fabien Devide, President and Co-founder of Team Vitality, “This investment marks a truly significant moment in the five-year history of our team and is a result of the hard work of our players, and the unquestionable loyalty of our supporters. We look forward to building on the already great community Team Vitality has established and to welcoming new players and supporters in the future.”

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Kohli’s investment will aid Team Vitality in becoming a globally recognised brand, even as it prepares to spread its operations in Southeast Asia and China. Nicolas Maurer, CEO and Co-founder of Team Vitality said, “Team Vitality has always strived to be one of the best esports teams in the world. With Mr. Kohli’s support we are excited to step even closer to achieving our global ambitions. Team Vitality is set to become leaders in an industry that we believe will soon rival traditional sports in terms of audience and investment.”

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Team Vitality, which has recently entered CS:GO and has earned a spot in the LEC, is one of the active esports organisations of Europe.

The esports space in Europe, along with the US and Australia, are seeing millions of dollars’ worth of investments, as esports become more and more popular. Investments are generally being seen from the traditional sports sector, corporate backers, and celebrities. For example, Premier League football teams Manchester City and West Ham have been investing in this space, and Leicester City defender Christian Fuchs has started an esports academy of his own.
An investment on this level certainly proves that Kohli’s interest in not just European esports but the industry as a whole, is in earnest. The billionaire is also the founder of Kohli Ventures, a tech-focused venture capital firm.

Esports Insider quoted Kohli, “Esports is the future of both sport and entertainment and Vitality is one of the biggest and most exciting European teams. I’m thrilled to accompany them on their journey, as they look to become the number one esports team in Europe, and ultimately worldwide. I look forward to using my forty-years of business and technology experience to assist the management team in building a well-respected, world-class team, which will be a dream for every gamer and supporter to be a part of.”

Team Vitality, which has recently entered CS:GO and has earned a spot in the LEC, is one of the active esports organisations of Europe. South East Asia and China have the potential to bring even more action in the near future. As such, their plans for expanding their business there could prove to be a profitable decision.

(Navanwita Bora Sachdev is a freelance contributor and a senior writer for The Tech Panda)