Tencent VSPN-backed Tencent closes $ 60 million in funding

Organizes sports events in the field of sports in Shanghai Network programming vs. (VSPN) has raised $ 60 million in its B + Series funding round, as the inclusion of sports in the 2022 Asia Games squad as a full medal event has increased investor interest.

Join the round Prospect Capital Avenue, Guatai Junan International and Nan Pong Group, VSPN said in a statement on Friday.

Proceeds will be used to develop sports production technologies, build intellectual assets, create new products and supply contents as well as expand the business worldwide, according to the statement.

The four-year-old VSPN, which focuses on organizing sports tournaments, content creation and online activities, said it currently holds 70% of the market for premium sporting events in China. May 2020, TencentA backed company has launched its first overseas sports venue in Seoul.

On January 15, VSPN announced that it had acquired Banana and media games, Which was created by Wang Sikong, the son of Chinese asset tycoon billionaire Wang Jianlin, in what he described as a crucial step to further strengthen the global range.

The new funding comes almost a month after the sports quorum was announced as an official medal event at the 2022 Asian Games in Hangzhou, China. Sports was first included as a demonstration sport at the 2018 Asian Games in Jakarta.

The topic was also in the news earlier this month when the head iQiyi Sports, A major sports broadcaster in China, said he does not consider sports a sport, even if they appear at Asian games next year.

Contact Reporter Ding Yi ([email protected])

Related: Tencent Big Bets on Chinese E-Sports Company, Leads $ 100 Million Financing Round