DRIVE by Draftkings has announced an undisclosed investment in Boston-based esports organisation Warriors International. 

DRIVE by Draftkings is a multi-stage SportsTech and Entertainment venture capital firm founded by DraftKings, General Catalyst, Accomplice, and Boston Seed Capital. Along with its first esports investment, the firm also announced the appointment of Meredith McPherron as CEO and managing partner.

In a release, McPherron commented:

“The ongoing coronavirus pandemic has expedited technological advancements out of sheer necessity, especially in sports, gaming and media sectors where fan engagement and interaction are the lifeblood.

“Each of these investments fits into the areas we’ve identified as major drivers across those sectors not only today, but tomorrow as well.”

While CEO of DraftKings, Jason Robins, added:

“As DRIVE embarks on a new chapter and direction, the company could not be in better hands than with Meredith McPherron taking the reins. The sports tech and entertainment communities have a true strategic resource in DRIVE, which will empower portfolio companies to accelerate growth and realize their full potential.”

Warriors International fields teams in Counter-Strike: Global Offensive, and Rocket League, and has also received investment from Massachusetts-based VC firm Stage 1 Ventures.

In addition to Warriors International (WIN), the firm’s portfolio already includes branded credit card company Cardless, fishing platform Guidesly, and fan engagement platform Pickup. 

DraftKings now offers online sports betting, fantasy betting, and casino products, in regulated markets across the United States, including in Colorado, New Jersey, and West Virginia.  

AYO.NEWS says:

Like most major betting operators, DraftKings has been dabbling in esports for a while now, but the investment directly into an esports organisation, via its new co-owned VC firm, could signal that the company’s leadership now realise they have to take esports and video gaming much more seriously. 

DRIVE by DraftKings is only just getting off the ground, so we expect there’ll be many more esports and video game sector investments announced over the coming months.

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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