Asia

Tencent-backed VSPN Bags $60M in Series B+ Round

Published

4 years ago

January 25, 2021

Niji Narayan

Tencent-backed VSPN Bags $60M in Series B+ Round

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Total esports solutions provider Versus Programming Network (VSPN) has said that it has closed US$60 million in a series B+ funding round from Prospect Avenue Capital, Guotai Junan International and the Nan Fung Group.

With the fresh capital, the esports firm said it will develop its esports production technology, deepen the layout of esports IP trends and operations, create new esports products and content and expand its overseas esports services.

The latest investment comes three months after the company secured US$100 million in a series B funding round led by Tencent, with participation from Tiantu Capital, Susquehanna International Group and Kuaishou.

In 2016, VSPN closed its series A funding round led by Focus Media Network, Sequoia Capital China and China Media Capital.

“The esports industry is through with its nascent phase and is entering a new era. In this coming year, we at VSPN look forward to showcasing diversified esports products and content to more business partners and fans throughout the industry,” Dino Ying, founder and CEO of VSPN, said.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.