Rick Fox invests hundreds of millions into Esports with new firm
It looks like Rick Fox is being very serious about the Esports business. Together with Echo Fox CEO and former general manager of Warner Brothers Interactive Entertainment Jace Hall, Echo Fox investor and ex-CEO of Spectrum Business Ventures Amit Raizada, and VeriSign CEO and former San Jose Sharks co-owner Stratton Sclavos, Fox has launched a private equity firm with initial investments in esports, digital entertainment, and the lifestyle, food, and beverage sectors of “double digit millions” of dollars.
“The partners have been funding the investments for the first year to the tune of double digit millions out of our own partners’ capital with some small individual investors as well,” Sclavos said in a press release. “The plan is to put several hundred million to work within the next seven to 10 years.”
The firm, Vision Venture Partners wants to be hands-on when it comes to business operations, including executive management, talent recruitment, and business relations. VVP invested in an entertainment company already and will initially focus on production and esports content creation as well as video distribution, operating from a 30,000-square-foot Beverly Hills office that includes three production studios and an esports training facility.
What’s safe to say, is that Fox’s Vision Venture Partners will act as a catalyst for many esports companies to come over the next couple of years. It will be interesting to see what comes out of it.(dotesports)
