Golden State Warriors star Kevin Durant, New York Giants receiver Odell Beckham Jr. and the St. Louis Cardinals are among the participants in a $38 million capital raise for esports investment fund and management company Vision Esports, it was announced Thursday.
The New York Yankees had announced in October an investment partnership with Vision Esports. The two organizations are managing Vision Esports properties Echo Fox (organization formed by NBA champion Rick Fox), video performance validation company Twin Galaxies and production studio Vision Entertainment. Vision Esports now becomes the largest shareholders in those properties.
“Our investors are some of the smartest and most accomplished names in sports and media and they share our passion, committing not only capital, but also their organizational resources and relationships in our quest to change the professional sports landscape,” Vision Esports managing general partner Stratton Sclavos, the former San Jose Sharks co-owner, said in a statement.
Durant’s investment with business partner Rich Kleiman through the Durant Management Company signals the NBA Finals MVP’s continued interest in expanding his portfolio. For example, The Durant Company in December announced it was an angel seed investor in sports media company Overtime.
It’s esports that is growing and attracting star athletes in their 20s like Durant and Beckham along with owners from traditional sports to invest. The Cardinals are the latest baseball team to get involved.
“We have been following the esports sector for several years,” Cardinals vice president of business development Dan Good said in a statement. “In the last year, we have gotten to know the team at Vision Esports and felt this was an exciting investment opportunity. In addition to the sector’s growth potential, we were impressed with Vision’s depth of experience that is applicable to the new esports ecosystem; including, Stratton Sclavos’ experience with the San Jose Sharks, Jace Hall at Warner Brothers Interactive, Chris Nordling at MGM Resorts and Mike Mossholder at the UFC.”