TSM Parent Company Raises $37M, Backers Include Stephen Curry and Jerry Yang

  • Swift, the parent company of Team SoloMid, has raised $37M through a series A funding round.
  • Alongside round leader, Bessemer Venture Partners, backers include NBA player Stephen Curry and Yahoo co-founder Jerry Yang.
  • Company will use $10M for gaming investments and acquisitions, $20M for franchising fees and a new esports facility in Los Angeles.

Swift, the parent company of multi-esports organization Team SoloMid Database-Link-e1521645463907, has announced the close of a $37M series A funding round. First reported in Forbes, the investment covers not just the team organization, but all of the company’s services, including analytics tools FortniteMaster and ProBuilds.

The funding was led by Bessemer Venture Partners, which also backs Blue Apron and Pinterest.

The funding was led by Bessemer Venture Partners, which also backs Blue Apron and Pinterest, and was previously an investor in Twitch. The investors include multiple pro athletes: Golden State Warriors players Stephen Curry and Andre Iguodala, as well as NFL Hall of Famer Steve Young. Yahoo co-founder Jerry Yang, Australian telcom Telstra, Steve Simon, Yifang Ventures, and Twitch Database-Link-e1521645463907 chief strategy officer Colin Carrier also participated in the round.

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In January, it was reported that TSM’s parent company would receive $25M from Bessemer Venture partners, with CEO Andy “Reginald” Dinh stating that no deal had yet been finalized. Until now, TSM was the only org in the franchised NA LCS Database-Link-e1521645463907 not to have taken significant outside capital or to have ties to an NA sports team, owner, or player.

The company will now reportedly use $10M of the funding for acquisitions and investments in the gaming industry. A further $20M will be used to pay franchising fees (TSM’s slot in the NA LCS requires a $10M entry) and to build a 15K-20K square foot esports facility in Los Angeles.

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