Shanghai-headquartered esports solutions provider Versus Programming Network (VSPN) on Monday announced the completion of a $100-million Series B round funding led by Chinese tech giant Tencent Holdings.
SIG, Tiantu Capital and Chinese video-sharing giant Kuaishou also joined the round, VSPN said on WeChat.
Shenzhen-headquartered boutique agency Lighthouse Capital facilitated the transaction.
The company will use the proceeds to support esports products and for overseas expansion. VSPN CEO Dino Ying said the company was looking to develop an esports research institute and an esports culture park.
VSPN, set up in 2016, has a presence in Chengdu, Xi’an and Seoul, South Korea.
Recently, VSPN forged a partnership with Shanghai-based commercial property developer Yongye Group. Prior to that, Tencent and VSPN had jointly launched an interactive entertainment campaign, The PUBG MOBILE Global Extreme Challenge.
In June 2016, Sequoia Capital China, mobile-only sports service provider Hero Entertainment and Aiwan Investment had invested in VSPN’s pre-A round.
A month later in July 2016, CITIC Guoan Group Corporation, PE firm Guangdian Capital, Focus Media and Abinon Capital had invested 640 million yuan ($95 million) in VSPN’s Series A round.