Team EnVyUs are the latest eSports organisation to announce a significant investment from outside of the industry, boasting a $35 million deal with Hersh Family Investments and its interactive group.
The investment group – headed by Kenneth Hersh, a reputable figure within the oil and natural gas industry – have secured one of the largest eSports team acquisitions in the history of the industry. NV’s regional rivals are understood to have sold for roughly $15 million to $25 million over the past year.
Hersh Family Investments is not entirely unfamiliar with the eSports industry. In April, Kenneth Hersh and his company were named as minority investors in a $7 million funding round for European eSports heavyweights, Fnatic.
Whereas Hersh’s involvement in the Fnatic deal was understood to be minimal, according to ESPN eSports sources, he will assume a more active role with Team EnVyUs.
Team EnVyUs is currently headquartered in Charlotte, North Carolina, but is expected to relocate to Dallas, Texas, following the acquisition, to align with its anticipated Overwatch League slot.
If Team EnVyUs is to become the eighth team to participate in the Overwatch League, in addition to becoming a permanent partner of the forthcoming North American League of Legends Championship Series franchise, $30 million of the investment will have been spent immediately.
Team EnVyUs is amongst the nine pre-existing NA LCS teams that have applied for a permanent spot in the franchised league.
As a multi-title eSports organisation, with Overwatch and CS:GO teams that are amongst the best in the world, the combination of newfound investment and the safety net of a franchised system could see NV completely overhaul their League of Legends roster ahead of the 2018 Spring Split.
Though the announcement of the investment came after the deadline imposed by Riot Games for applications to the NA LCS franchise, the promise of renovated infrastructure and the growth of talent is likely to work in Team EnVyUs’ favour.