Esports organization, Misfits Gaming group, has launched a $10 million seed fund and incubator for gaming startups tagged MSF.IO.
There will be an open application period, and by January, two startups would have been chosen from around the world. Hence the company can also groom at its headquarters in South Florida.
The $10 million is self-funded money, and the company only wants to take five startups for the first batch of the investment.
Aside from esport startups, Misfits is also looking for data and analytics companies, and education-focused startups which can serve players with skill development and game development studios.
Misfits have a group of advisers, which include Nicola Piggott, co-founder of esports PR agency The Story Mob and former comms lead at Riot Games; Rich Kracum, co-founder of private equity firm Wind Point Partner and James Kuhn, president of real estate company Newmark Knight Frank.
Because of team franchises in the league of legends European Championship, the Overwatch League, and the new Call of Duty League, the worth of Misfits gaming is approximately $120 million by Forbes.
The CEO of Misfits, Ben Spoont, believes the approach of Misfits is unique in the industry. He also stated that the company isn’t planning to incorporate these businesses into their normal esports operations; instead, they want to invest in a business that has prospects.