Formula 1 race winners Juan Pablo Montoya and Rubens Barrichello have invested in Millennial Esports Corp, the parent company of World’s Fastest Gamer. They both will be part of the special advisory board of the company operating under the direction of new CEO and industry veteran Darren Cox.
The investment was a part of the non-brokered private placement of convertible debentures. Millennial Esports announced that it has raised a total of US$15,000,000 in three tranches. The Montoya/Barichello group invested as part of the US$5,342,000 second tranche that closed on July 25, 2019.
“I followed Darren Cox’s previous success in the esports racing world with GT Academy. I race online all the time and see the size and passion of the community. I also know the appetite for sponsors to get involved in esports racing, but there are not many credible opportunities. I looked at Millennial Esports’ current and future projects and felt that this was a turning point for the industry, and I wanted to be fully involved,” Barrichello said.
“I have raced online for many years and recently took a role as a judge for Millennial Esports’ ‘World’s Fastest Gamer’ competition. I saw the strength of the team behind it and decided that I should be more involved. Esports racing is enjoying a huge rise in interest through programmes such as World’s Fastest Gamer, F1 Esports, and NASCAR’s esports competitions. Up until now, there was not a simple way to invest in the space; Millennial Esports has opened up that opportunity,” Montoya said.
By gathering assets and expertise in the racing and esports space, Millennial Esports has now provided a way for motorsport fans to invest and participate in this growth market.
“We are refocusing Millennial Esports into a business that concentrates on two big untapped opportunities within esports – motorsport and data provision. Having Juan Pablo and Rubens fully involved in the business will bring even more insight and credibility to our group and team,” Darren Cox said.
By Niji Narayan
Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.