Banana E-sports raises RMB150 million

Banana E-sports, the e-sports unit of Banana Plan which was founded by Chinese billionaire Wang Jianlin’s son, Wang Sicong, has reportedly raised RMB150 million from investors in Round A fundraising.

According to a report on NewSeed, the investment was led by International Data Group (IDG) and Cultural Assets Digital Investment Capital, a joint venture under China Digital Culture and Beijing Cultural Creative Investment.

The raised money will be used to establish a flagship e-sports event in the second half of 2016 under the brand of Banana named “Best Series,” announced Pei Le, CEO of Banana E-sports. In addition to this event, Banana E-sports will work together with live streaming platforms to build channels, through which the audience will be able to access VOD and live coverage of the to-be-established e-sports competition.

Banana E-sports is an e-sports company under its parent company Banana Plan, which was founded in August 2015.

Source: NewSeed

Proofread by Sean O Diobhilin