Tech entrepreneur Tej Kohli has launched a €50 million investment arm to support Europe’s growing eSports sector.
The self-made technology billionaire believes the continent’s underdeveloped eSports market provides the best opportunities for investors in an industry gaining mainstream global attention.
Through the new investment arm, Rewired GG, Kohli is looking to build a world-class eSports team, as well as develop individual players, games and commercial opportunities.
Rewired GG is the European eSports investment arm of Rewired, a venture studio investing in start-up AI and robotics firms, which Mr Kohli is the lead backer.
London-based Kohli was inspired to enter the market after being introduced to the sector by his gaming enthusiast son, Sean.
Kohli built his career in eCommerce technology and property investment and now invests in social impact start-ups specialising in robotics, artificial intelligence and biotech.
Other high-profile eSports investors include Premier League clubs such as Manchester City and West Ham, while Leicester City defender Christian Fuchs has launched his own eSports academy.
“eSports has huge potential and could rival traditional sports like football, tennis and basketball in terms of cultural impact and viewing figures,” said Kholi.
“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.”
Sam Cooke, MD and co-founder at Esports Insider and advisor to Rewired GG, said: “I am really excited to see eSports investment in Europe looking to catch up with those already seen in America and across Asia.
“There is so much European potential in this developing sector, from individual players to whole teams, and the establishment of an investment arm like Rewired GG goes to show that there is now real confidence in this potential.”