Team Echo Fox is revolutionizing the esports landscape thanks to entrepreneur Amit Raizada and the rest of the team’s financial backers. Raizada is a founding partner of Vision Venture Partners (VVP), the parent company of Echo Fox. His day-to-day responsibilities with the company include assisting in the development of all of the company’s investment platforms, performing due diligence, locating growth opportunities, assisting with risk mitigation, and transaction structuring as required.
Raizada’s background is ideally suited to his current role. He graduated from Michigan State University with a degree in economics before founding Spectrum Business Ventures (SBV) in 2002. He acted as this company’s CEO for 15 years, building a portfolio of over 60 companies in the finance, energy, technology, retail, hospitality, and esports industries. In 2006, Raizada oversaw the launch of a real estate division of SBV that now owns over 6,000 properties across the United States.
Raizada is still a member of the Board of Directors at SBV and a number of the companies it has invested in, but his primary interest today is Team Echo Fox and esports. Most esports teams sign talented players and compete for the prize money offered in various video game tournaments as their business model, but Raizada and the other Echo Fox backers do not believe in this approach.
Instead, Echo Fox strives to produce the revenue streams professional sports franchises enjoy, such as endorsement deals, revenue sharing, local media contracts, and national media contracts. Echo Fox is changing the esports landscape by fundamentally altering how teams operate.
One way that they do this is by operating multiple teams under the Echo Fox umbrella. While other teams specialize in one or a few related esports titles, Echo Fox fields multiple teams across a broad variety of genres. Some of the games Echo Fox has competed in include Capcom’s Street Fighter V, Nintendo’s Super Smash Bros. franchise, League of Legends, Gears of War, and Mortal Kombat. This diversity ensures that Echo Fox as a whole can still succeed even if any particular team fails to live up to expectations.
This model relies upon having multiple players under contract at any given time, as esports players generally do not cross over into games outside of their comfort zone. Raizada helped get the capital to do this by parlaying his personal relationship (along with that of ex-Lakers star Rick Fox and VVP CEO Jace Hall) with Stratton Sclavos (former owner of the NHL’s San Jose Sharks) into a significant investment in Echo Fox announced in late 2017. This cash enabled Echo Fox to sign multiple esports players “at unprecedented salaries relative to their peers” according to ESPN.
As professional athletics such as NFL football are losing popularity, esports are growing by leaps and bounds thanks in part to entrepreneur Amit Raizada and the rest of the Echo Fox team.
The post Entrepreneur Amit Raizada & Team Echo Fox Score Big appeared first on Modest Money.
This post first appeared on Modest Money Investing News And Personal Finance B, please read the originial post: here