Stanford University has participated in a $46m funding round for Gen.G together with venture capital firms and celebrity investors such as actor Will Smith.
Gen.G, a US-based e-sports conglomerate, obtained $46m in funding yesterday from a consortium featuring Stanford University.
New Enterprise Associates, Conductive Ventures, Battery Ventures, Canaan Partners and SVB Capital, the investment arm of Silicon Valley Bank, also contributed to the round, as did assorted angel investors such as actor Will Smith and footballer Keisuke Honda.
Founded in 2017, Gen.G owns teams competing in e-sports competitions around the world, covering games such as Overwatch, League of Legends, PlayerUnknown’s Battlegrounds, Clash Royale, Fortnite, Call of Duty and Apex Legends.
The funding will support the opening of the company’s LA headquarters, driving its continued expansion into China and supporting player development programs. Silicon Valley Bank will collaborate with Gen.G on several upcoming events throughout 2019 and 2020.
Smith and Honda will both advise Gen.G on creative and commercial endeavours, including the company’s brand and content creators and its players.
