Saudi Arabia’s wealth fund has made its first major foray into the Chinese games market, betting on a
Savvy Games Group, a unit of the Public Investment Fund, invested $265 million in VSPO, which promotes and runs competitive gaming events for titles such as League of Legends and PUBG. The Shanghai outfit, formerly known as VSPN and also backed by Sequoia China and Susquehanna International Group, didn’t disclose its valuation in the Series C round. Savvy now becomes VSPO’s single largest equity holder, according to a statement Thursday.
The funding could help ...
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