Entrepreneurs Roundtable Accelerator, a New York City-based accelerator, said on Nov. 13 that it has invested in South Korean esports startup Gen.G.
The New York accelerator did not disclose the exact investment amount, but it came after a group of investors -- Los Angeles Clippers minority owner Dennis Wong, Hollywood actor Will Smith’s Dreamers Fund, Battery Ventures, Canaan Partners, SVB Capital and Stanford University -- invested a combined $46 million funds earlier this year, the accelerator said.
“The latest funds will help the Korean company to grow its presence in the US esports market,” ERA said.
Established in 2017, Gen.G runs esports teams for global hit games such as Heroes of the Storms, PlayerUnknown’s Battlegrounds, and Fortnite.
ERA, which invests in early-stage tech startups, has worked with Korean firms and local governments to help them enter the US market. It has been inviting local startups to Manhattan every year. Those selected participate in monthslong programs run by the US accelerator.
ERA’s partners include the Korea Institute of Startup & Entrepreneurship Development, Korea Trade-Investment Promotion Agency, Seoul Metropolitan Government and Korea Venture Investment Corp.
Founded in 2011, it has raised more than $250 million won, and has some 180 startups under its portfolio.
By Kim Young-won (email@example.com)