Esports Entertainment Group, Inc. has signed a partnership agreement with Game Fund Partners to become a part of their venture capital arm and a new planned $300 million dollar game fund.
As part of the new multi-year agreement, the company will initially invest approximately 2 million dollars of EEG shares into 20% of the General Partnership of the fund and will become an integral part of working with the management and investment committee for the entity.
As a partner of Game Fund Partners, Esports Entertainment Group will explore several new joint projects and investment vehicles to help fuel rapid growth for the company in the areas of gaming, data, blockchain, online gaming, and joint casino hotel investments.
Grant Johnson, CEO of Esports Entertainment Group, said: "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 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 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 at 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."
Esports Entertainment Group now includes GG Circuit, EGL, Landuel, Lucky Dino, Bethard, Helix Centers, VIE, Argyll Entertainment, SportNation as well as efforts across the world in gaming centers, cryptocurrency mining, and partnerships with major sports teams.