Team Solo Mid is one of the most popular esports organization names in the industry. The organization which has teams in several esports titles but is most well known for its League of Legends team has apparently received fresh funding. The new funding will have a fixed number at $25 million, however, it has not been revealed the valuation at which the funding has been secured. The other esports organizations such as Cloud9 and other teams are usually valued at around $100 million to $110 million. It is largely expected that the TSM brand will be valued at the same amount.
The news which broke out on ESPN, has mentioned the investors to be Silicon Valley-based venture capital firm Bessemer Venture Partners.
The deal was started by former Bessemer entrepreneur in residence John Robinson, according to sources. Bessemer committed to fund SoloMid on Friday. Robinson has since left his position with Bessemer and accepted an operational role at 100 Thieves, another League of Legends Championship Series franchise, sources said.