VSPN (Versus Programming Network), a comprehensive esports service provider, has successfully completed a $60 million Series B+ funding round with participation from Prospect Avenue Capital (PAC), Guotai Junan International, and Nan Fung Group.

VSPN organizes and supports esports events within China, a rapidly growing market, and has broadened its operations to include areas like esports facilities. The company serves as a leading organizer and broadcaster for numerous prominent competitions, collaborating with over 70% of all esports tournaments held in China.

This Series B+ investment follows closely on the heels of a roughly $100 million Series B funding round secured by the company just three months prior, which was spearheaded by Tencent Holdings.

The newly acquired funds will be allocated, in part, to the expansion of VSPN’s esports services into international markets.

According to a statement by VSPN’s founder and CEO, Dino Ying, the esports sector has moved beyond its initial stages and is now entering a period of significant growth. He expressed VSPN’s anticipation for presenting a wider range of esports offerings and content in the near future, and noted the company’s eagerness for the resolution of the current pandemic.

Ming Liao, co-founder of PAC, stated: “VSPN distinguishes itself in the investment landscape with its strong financial oversight and management practices, which will provide a solid base for its continued growth.”

Xuan Zhao, head of Private Equity at Guotai Junan International, commented: “Guotai Junan International has a very positive outlook on VSPN’s understanding of the market and the effectiveness of their business strategy.”

Meng Gao, managing director at Nan Fung Group’s CEO’s office, added: “Nan Fung is pleased to contribute to this investment round, which will enable VSPN to reinforce its existing business operations and accelerate the growth of new services and the esports streaming environment.”