OverActive Media Group, owner of the newly added Toronto Overwatch League team, has reportedly raised $21.5 million in equity financing to fund the team's initial operation costs and francise fees for the coming year.
Esports Observer reports that the funding was lead by the team's original investors Sheldon Pollack and Pittsburg Penguins owner Michael Kimel, as well as venture capitalist Adam Adamou and other members of the Kimel family.
In August, news of OverActive Media's partnership with Splyce Gaming to take on ownership of the new Toronto team in a $35 million deal was reported ahead of the official announcement of the team's existance.
OverActive Media is the Toronto team's primary investor, while Splyce oversees its operations. The two groups share ownership of the team, and OverActive Media made a $1.5 million investment in Splyce earlier this year as a part of a $2.6 million funding round.