Tech billionaire Tej Kohli launches €50 million European esports investment fund
Esports Insider co-founder and managing director Sam Cooke brought on as adviser to Rewired GG
European esports has received possibly the largest investment in its history, after tech entrepreneur Tej Kohli launched a €50 million fund to support the sector.
Through Rewired GG, the London-based tech billionaire intends to build "a world-class esports team, as well as develop individual players, games and commercial opportunities".
Esports Insider managing director and co-founder Sam Cooke has joined Kohli as an adviser to Rewired GG.
The esports fund is a new arm of Kohli's venture studio Rewired, which invests in start-up AI and robotics firms.
"Esports has huge potential and could rival traditional sports like football, tennis and basketball in terms of cultural impact and viewing figures," said Kohli.
"I have seen first-hand through my son the passion many young people have for the sport and the growing professionalism of the teams, players and commercial partnerships.
"I believe that with the right mentoring and investment, Europe will soon play host to the best players, teams and commercial opportunities in global esports.
"Esports is the most disruptive innovation in world sport and I am excited to be able to help it thrive this side of the Atlantic."
Much like in the US, the traditional sports sector in Europe is also investing in esports; Premier League football teams Manchester City and West Ham have put money into the sector, and Leicester City defender Christian Fuchs has launched his own esports academy.