Sections raises €5m, launches €1m esports player fund

Fund will be used to help support amateur and semi-pro players and teams through travel, training, formerly, has announced the closing of a €5 million ($5.5 million) Series A funding round, as well as the launch of the Nicecactus Grassroots Esports Fund.

The fund, which totals €1 million ($1.1 million), will be used to support amateur and semi-pro esports players and teams working toward the professional level. Interested individuals can apply for grants from the fund, which can be used toward travel and accommodation at esports events, or for professional training bootcamps.

The full Series A funding, which was raised by a group of private investors, will be used to bolster the Nicecactus platform including hiring new talent and scaling its business further.

"We deeply believe that if esports wants to enter the next stage of growth, it must be catered to and fostered at the grassroots level," said co-founder Alexandre Amoukteh. "By starting the Nicecactus Grassroots Esports Fund and raising additional capital to help unleash the full potential of every esports athlete, we further solidify our commitment to finding and raising the next generation of esports athletes."

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