Gen.G Raise $46 Million Investment
This past week Gen.G were the latest esports organisation to announce a significant investment into the company. Raising $46 million USD from a wide source of investors.
There are some notable names investing in the continually growing esports brand. The most notable name is the actor, Will Smith. Those joining him are LA Clippers minority owner Dennis Wong, Standford University, Silicon Valley Bank, and New Enterprise Associates. There are also additional firms and individual investors involved.
Arnold Hur, who recently got promoted to Chief Operating Officier at Gen.G discussed the teams plan with the additional funding they secured. He’s confirmed there is high importance of investing in long-term infrastructure, which he believes will become the difference between Gen.G and other esports organisations.
The Global Mindset
Continuing their global expansion seems to be a key focus area. They plan on setting up a second headquarters in Los Angeles, after establishing the brand in South Korea and China. Gen.G currently have teams in three markets and believe this is something unique that many other organisations cannot offer sponsors at this time.
They have announced that they will be focusing on developing their own academy program. Academy programs have become a popular addition to many esports organisations over the past year or so.
They hope to help secure and develop younger talent that will eventually lead to a steady stream of options for their professional rosters. Hur has pointed out that there is a considerable amount of talent within Overwatch and League of Legends that are available due to the age cut off that exists for the franchised leagues. They see potential from investing in this area with hopeful long-term benefits.
Gen.G currently hold one of the franchised league spots in the Overwatch League. They are hoping that the LCK will eventually follow in the footsteps of the LCS and LEC.
When the LCK finally hits the franchising stage, we can expect Gen.G to be one of the first to apply for a spot. They have also sparked rumours about stepping into Call of Duty with it’s upcoming franchised league.