Misfits Gaming Group launches $10 million esports & gaming seed fund
The group behind various teams including Florida Mayhem has set up an incubation and seed fund to support esports and gaming innovation.
As esports and gaming technology continues to grow, so does the need for innovation and infrastructure to support it. There’s far more to the competitive arena than simple playing the game. As a massive organization in esports with multiple teams across various games, Misfits Gaming Group knows this well. The group launched a $10 million esports and gaming incubator and seed fund to support start-ups and innovation in the industry.
Misfits Gaming Group announced the launch of their new fund on November 22, 2019. Launching under the umbrella of MSF.IO, the Misfits Group intends to provide an opportunity to the industry for business and infrastructure with support from their collective gaming brands including the original Misfits Gaming, Florida Mayhem, and newly acquired Call of Duty League team, Florida Mutineers. It’s not just about giving creators the opportunity, but also about helping to cultivate a space where ideas can grow, develop, and reach appropriate networking with help from the resources that MSF.IO will supply.
According to Misfits Gaming Group Co-Founder and CEO Ben Spoont, infrastructure and ideas in the esports and gaming industry need a boost when it comes to entrepreneurial support and cultivation.
“As the first esports and gaming-focused startup incubator and seed fund offering the resources of our caliber in North America, our goal is to create infrastructure for supporting and developing emerging business talent,” said Spoont. “Although there's plenty of investment at the highest levels of esports, we believe that entrepreneurs and small businesses in the space often struggle and are overlooked by mainstream opportunities for funding. To grow the industry, it is critical to support these budding entrepreneurs. Esports doesn't just happen at the highest end. Innovative ideas from smaller companies challenge us all and create tools, services and structures that help our industry stay fresh and competitive. We are tired of waiting for the next big company to emerge in the esports and gaming industries and not be a part of it. We want to help invest in the kind of ideas that will move our industry forward.”
Indeed, broadcast and streaming technology, esports betting systems, esports medicine and psychology, and many other sectors are emerging in the gaming space that will likely need solutions as the industry continues to grow. Misfits Gaming Group’s efforts to lend a hand to budding creativity will hopefully lend a hand and boost development and ideas that might have otherwise gone overlooked. It will be interesting to see what comes of the Misfits Gaming Group’s investment over the next few years, inside and outside the competitive scene.
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