LOS ANGELES, Nov. 19, 2018 /PRNewswire/ -- Many people see video games as a waste of time, or perhaps a viable stress reliever after a long day at school or work. Amit Raizada, a Los Angeles-based businessman with over 15 years of experience as a CEO, entrepreneur, and investor, sees them very differently. In video games, Raizada sees a growth industry poised for explosive growth in the near future.
Many popular video games such as Call of Duty and Gears of War have large competitive scenes where players compete for prize pools in excess of $1 million. These events have large audiences on platforms such as Twitch.tv, and professional players are offered large contracts to jump from one team to another. If that sounds like professional athletics, that's because it is. However, the industry doesn't receive the same exposure as NBA basketball or NFL football. As such, the money involved isn't quite the same.
Raizada is looking to change this paradigm through his partnership with Rick Fox (ex-NBA player) and Stratton Sclavos (serial entrepreneur) of Team Echo Fox. Team Echo Fox is a competitive eSports team that hopes to field players for as many different games as possible, giving them a level of penetration into the industry comparable to how the New York Yankees or Los Angeles Lakers have dominated their respective sports.
That's going to be expensive, but Raizada is no stranger to large deals. He founded an investment firm called Spectrum Business Ventures (SBV) in 2002 and served as its CEO for 15 years, during which he built up a portfolio of over 60 companies in the hospitality, finance, technology, and energy industries. In 2006, he added a real estate arm with an emphasis on multi-family housing complexes. All told, Raizada has been involved in hundreds of business deals valued in the billions of dollars collectively.
Today, he serves as a partner for Vision Venture Partners (VVP), an investment firm dedicated to finding industries with explosive growth potential that can be unlocked with unorthodox thinking. His primary responsibilities include identifying growth opportunities, due diligence on investments, risk mitigation, and transaction structuring. In addition, he still serves on the SBV Board of Directors as well as those of several of the companies he acquired for them.
Raizada's professional experience and deep pockets combined with Rick Fox's firsthand knowledge of what it takes to be a professional athlete make them a formidable force in the eSports industry. Together, they can bring together the best players, best equipment, and best coaching the video game landscape has ever seen under one roof.
eSports are not new, but Amit Raizada eSports will take them to the next level. His proven business acumen will work wonders in an industry that has nowhere to go but up!
SOURCE Amit Raizada