Tier One Entertainment Secures Pre-Series A Investment to Finance its Expansion Plans – The Esports Observer

Philippinesheadquartered esports and gaming talent agency Tier One Entertainment announced that it has secured a Pre-Series A financing round led by venture capital firm Gobi Partners through its Gobi-Core Philippine Fund, a joint-venture fund with Core Capital. In addition, entertainment and record label Warner Music Group joined the round as part of its strategic investments in the region. Further investors that participated in the investment round include Singapore-based family office Octava, Japan-based internet company KAYAC Inc, and Tier One Entertainment’s early-stage investor, Atlas Ventures. Tier One did not disclose the financial details of the investment. 

 Tier One Entertainment, which was founded in 2017 by esports veteran Tryke Gutierrez, cosplay and gaming personality Alodia Gosiengfiao and entrepreneur Brian Lim, revealed that it intends to use the investment proceeds to “to hire back-end teams that will further support their talents, expand their esports operations in Blacklist International, Tier One’s Esports team, and set-up their first content creation hub in the Philippines.” Additionally, the agency, which is currently operational in Malaysia, Myanmar and the Philippines, will set up local operations in other Asian countries. 

 The agency previously closed a seed investment round from investors including BITKRAFT Ventures and Atlas Ventures.

Source: Read Full Article