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Chinese esports player VSPN closes $ 60 million Series B + round to bolster international strategy – TechCrunch

VSPN (Versus Programming Network), a ‘total solutions provider’ for esports, closed a $ 60 million Series B + funding round, joined by Prospect Avenue Capital (PAC), Guotai Junan International and Nan Fung Group.

VSPN facilitates esports competitions in China which is a massive industry and has spread into related fields such as esports venues. It is the main tournament organizer and broadcaster for a number of top competitions, partnering with over 70% of esports tournaments in China.

The “B +” funding round comes just three months after the company raised about $ 100 million in a Series B funding round, led by Tencent Holdings.

This round of funding will, among other things, be used to expand VSPN’s overseas esports services.

Dino Ying, founder and CEO of VSPN, said in a statement, “The esports industry is in its nascent phase and is entering a new era. Over the coming year, at VSPN, we look forward to showcasing diverse eSports products and content… and we are counting the days until the end of the pandemic.

Ming Liao, co-founder of PAC, said: “As a unique company in the capital market, VSPN is renowned for its financial management; these references will form a solid basis for the future development of VSPN. “

Xuan Zhao, Head of Private Equity at Guotai Junan International, said, “At Guotai Junan International, we are very optimistic about VSPN’s insight into the market as well as the outstanding business model of its team.”

Meng Gao, General Manager of the Office of the CEO of Nan Fung Group, said, “Nan Fung is honored to be part of this round of investment for VSPN in strengthening its current business model and promoting the rapid development of emerging services. and the esports streaming ecosystem.

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