- Actor Will Smith leads a $46-million investment round in esports powerhouse Gen.G
- Gen.G continues to add experienced business executives
- The organization fields 8 different esports teams
Gen.G has concluded a fresh round of investment that has brought the company $46 million in new funds. One person that stood out from the crowd of benefactors was Men in Black actor Will Smith who led the round.
Gen.G Raises $46m in New Funding, Will Smith’s Among Investors
South Korean esports organization Gen.G has successfully concluded their latest round of capital investment, raking in $46 million in the process. Re-branding from KSV Esports last year, Gen.G has been scaling its offer up, adding an all-female Fortnite team and successfully fielding players in the Overwatch League (OWL).
The latest investment round was led by Will Smith, the famous actor who is known for his roles in Men in Black, Bad Boys, Hancock and other recent blockbusters, and Japanese soccer star Keisuke Honda’s Dreamers Fund.
Smith and Honda inspired others to join in with Los Angeles Clippers’ Dennis Wong and Michael Zeisser, formerly of Alibaba Group, also investing alongside MasterClass Founder and CEO David Rogier.
Gen.G Grows Captivates the Interest of the Crowds
Gen.G has been successful in drawing attention to itself. The organization is advised by NBA Champion Chris Bosh. Gen.G has been expanding its digital footprint at a quick pace, drawing copious investment from multiple parties. Commenting on why he decided to invest into Gen.G, Honda said:
We decided to invest in Gen.G because of their incredible team and grand vision to become a leader in the space. We truly look forward to working with Gen.G to boost the esports industry around the world.
Gen.G CEO Chris Park also expressed appreciation for the continuous support his organization has received:
We are grateful for the support of a remarkable group of investors that is as diverse as the future of esports itself.
Presently, Gen.G fields eight distinct competitive teams across multiple esports disciplines, including League of Legends, Call of Duty, Clash Royale, PlayerUnknown’s Battlegrounds, Fortnite, Overwatch, and most recently Apex Legends.
Gen.G has also been attracting a crop of talented players and executives from the world of sports. Recently, the organization secured the services of former Major League Baseball (MLB) professional Martin Kim who is now in charge of strategic partnership.
Esports entities have been adding people with hands-on experience on brokering important deals and partnerships and vice versa – business executives have been looking into ways to join the esports industry.
Jack Harari recently left the NBA to join Activision Blizzard Esports, just one of the numerous examples where business acumen is drawn to the biggest game makers, esports organizations and tournament hosts.
In October, rapper Drake invested in 100 Thieves, joining the growing number of personalities to have supported the segment. Imagine Dragons’ Daniel Platzman invested in REKT Global, another esports powerhouse, in May, 2018.