Gen G., a leading esports organization with teams in both the Overwatch League and League of Legends, has announced a $46 million funding round that includes investment from Hollywood actor Will Smith as well as several sports figures.
In addition to Smith, Japanese soccer star Keisuke Honda’s Dreamers Fund, Los Angeles Clippers minority owner Dennis Wong, former Chairman of US Investments at Alibaba, Michael Zeisser, and MasterClass Co-Founder and CEO David Rogier, participated in the financing. New Enterprise Associates, Conductive Ventures, Battery Ventures, Canaan Partners, SVB Capital, and Stanford University were also included.
The capital raised will support the ongoing expansion of Gen.G’s global footprint, which already includes teams in top esports leagues across the U.S., China, and Korea. The organization also hopes to use this money to further develop its youth esports academy program and to support the launch of its Los Angeles headquarters, slated to open this July, as part of broader efforts to grow esports in the U.S. Smith and Honda will join two-time NBA Champion Bosh in supporting Gen.G’s creative and commercial endeavors, guiding the growth of the brand and advising Gen.G players and content creators.
“With the support of our new investors, we’re excited to bring several priorities to fruition including our LA headquarters, our continued expansion into China, our always evolving player development academy programs and a big priority for us in 2020, which is hosting Dynasty matches in Seoul,” said Gen.G Chief Operating Officer Arnold Hur, in a statement.
Gen.G has been busy over the past year striking partnerships, launching teams, claiming championships, and bringing on talent from the traditional sports world. In the past few months, it has renewed a partnership with NETGEAR’s Nighthawk Pro Gaming, brought on NBA star Chris Bosh as an athlete advisor, formed an all-female Fortnite team, and poached MLB exec Chris Park to serve as CEO.
“We are grateful for the support of a remarkable group of investors that is as diverse as the future of esports itself,” Park said. “Our partners in this round share Gen.G’s mission to reimagine sports entertainment as only an authentically global esports organization can.”
Having served a crucial role during this fundraising round, Silicon Valley Bank has been named as Gen.G’s banking partner. The two also have plans to work together further on a variety of upcoming events and content through this year and in 2020.
Gen.G additionally announced the appointment of former MLB executive Martin Kim to vice president of strategic partnerships for Gen.G. He most recently served as director of MLB’s international business development and marketing. Prior to that, he managed corporate and international partnerships for the Los Angeles Dodgers.