Chinese esports solutions provider VSPN (Versus Programming Network) has announced today that the company has closed a multi-million USD Series B2 funding round, led by Morgan Stanley Private Equity Asia (MSPEA). The funding will be utilized for the expansion of VSPN’s global business and the development of the esports content matrix around VSPN+.
“After the funding, VSPN plans to develop its business globally. Aside from producing professional esports tournaments overseas, VSPN also aims to formalize the operation of professional esports leagues and develop esports infrastructure to build on the esports ecosystem worldwide,” VSPN CEO Dino Ying stated in the announcement.
Eight months ago, VSPN raised close to $100M in its Series B financing round led by Chinese conglomerate Tencent Holdings. Just three months after this round, VSPN closed a $60M Series B+ funding round led by Prospect Avenue Capital.
During the first half of 2021, VSPN has acquired Chinese production company Banana Gaming & Media, and live streaming talent agency Famulei. The financial terms of those two acquisitions were not disclosed.
Danny Tang, the Co-Founder, and CFO of VSPN is responsible for overseeing the group’s corporate strategy, finance, investments, and overseas operations. She was previously at Kohlberg Kravis Roberts & Co. L.P.’s investment team in the US and China and was also mentioned in TEO’s International Women’s Day feature series China part.
“I might be the worst player in the esports industry, but I’m much better at using what I learned from the investment industry to uncover and prove the value of esports,” Tang told FortuneZ.
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