Esports Entertainment Group Inc (EEG) has signed a partnership agreement with Game Fund Partners LLC (GFP) to become a part of its venture capital arm and a new planned $300m game fund.
The multi-year deal will see EEG initially invest approximately $2m of its shares into 20% of the general partnership of the fund whilst also becoming an integral part of working with the management and investment committee for the entity.
Grant Johnson, CEO of Esports Entertainment Group, commented: “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.
“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.”
As a partner of GFP, EEG will explore several new joint projects and investment channels to help fuel its growth in the areas of gaming, data, blockchain, online gaming, and joint casino hotel investments.
Game Fund Partners Chief Gaming Officer and Managing Partner, Jonah Blake, stated: “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 centers for our fund, EEG, and the industry overall.”
Marc Kasher, Chief Investment Officer of Game Fund Partners, added: “Our long-term partnership and the opportunity we have in working together with Esports Entertainment Group is a key to our continuing strategy of recruiting and involving the very best talents across the gaming and finance ecosphere.
“We are on the forefront of building a significant company together that I believe will be a leader in gaming and a new metaverse. EEG is a leader in gaming software and online gambling as well as investments in cryptocurrency. We see a number of extremely attractive financial opportunities in continuing and future projects with them.”