Vision Esports raises $38 million in funding

Vision Esports has raised $38 million in a funding round led by Evolution Media, with contributions from several top professional athletes.

Evolution Media is an investment firm backed by the Creative Artists Agency, and its $38 million round for Vision Esports also included Shamrock Holdings, which invests on behalf of the Disney family, NFL star Odell Beckham Jr., NBA star Kevin Durant, the St. Louis Cardinals baseball team, and a number of unnamed sports professionals.

Vision Esports is led by managing general partner Stratton Sclavos, the former owner of the San Jose Sharks. Evolution Media cited Sclavos' experience in the professional sports world as a particular strength of the organisation.

"Evolution Media has spent several years advising and analyzing companies in the esports sector, and we're particularly excited to partner with a world class management team led by Stratton, whom we've known since his days running Strikeforce and the San Jose Sharks," said Evolution founder Rick Hess.

"Esports is one of the highest growth sectors within all media and entertainment. We couldn't be more bullish on the space and Vision's market position."

Vision Esports was built to invest in other esports organisations, and this $38 million in funding has allowed it to push forward to become the largest shareholder in three different companies: Echo Fox, which was founded by the NBA star Rick Fox; Twin Galaxies, the video game stats and analytics firm that branched into esports last year; and Vision Entertainment, which produces esports content and live events.

In October last year, Vision Esports attracted investment from the New York Yankees.