Global Poker Index raises £3.2m in funding round
Capital will be used to "sportify" the game of poker and launch the Global Poker League in the US and Europe as well as new partnerships in Asia
Global Poker Index (GPI) parent company Mediarex Sports & Entertainment (MSE) has completed a $4.9m (£3.2m) funding round including investment from a Chinese private equity firm as looks to Asia for growth of its plans to “sportify” the game of poker.
The Series A funding came from private investors, including a first tier private equity fund in Beijing, and angel investors from the telecom, sports marketing and financial sectors in Asia and Europe.
GPI plans to launch the Global Poker League in early 2016 in US and European markets, which the firm said will build on the success of its first live poker competition – the Global Poker Masters – which took place in March this year.
The firm said the funding will help it build the infrastructure needed to be become a “full stack sports entertainment and media operator” with plans to stream poker video content via TV and live broadcasts.
“China will likely be the epicentre of the next poker boom and this time the boom looks to be powered by eSports, the video game, media and sports industries,” Alex Dreyfus, GPI chief executive, said.
“Thanks to our new investors we’ll be able to reach new strategic partnerships in China to help develop the sport of poker there, creating a domino effect that has globally positive effects,” he added.