Esports network VENN launches with $17M in seed funding

The Video Game Entertainment & News Network (VENN) has been announced, with industry veterans Ariel Thorn and Ben Kusin at the helm. 

Securing $17M in seed funding, the network is scheduled to launch in 2020 with live studios in Los Angeles and New York. VENN hopes to unite the media landscape by providing multiple categories of entertainment. 

VENN co-founder and co-CEO, Kusin discussed the venture in a release: "Video games continue to define the culture of today’s youth. Streamers, casters, content creators, esports athletes – these are our new celebrities." He went on to add," VENN is giving this generation an overdue home and a heartbeat, with bi-coastal broadcast studios incorporating live audiences, premium production values, a 24/7 linear offering, and engaging and innovative formats that elevate and promote a culture traditionally overlooked by broadcast media."

VENN will be distributed on Twitch, YouTube, Hulu and other platforms the company believes its demographic are consuming media. The name also represents a Venn diagram, making the company the "intersection of gaming, music, fashion and entertainment broadly."

Riot Games co-founder, Marc Merrill also stated: "The exciting thing about VENN is its potential to expose what is so compelling about gaming culture to a wider audience. I look forward to seeing the content they create and the opportunities they’re going to open up for players everywhere." 

The round was co-led by European investment firm BITKRAFT Esports Ventures. Other investors include Mike and Amy Morhaime, the co-founder of Blizzard Entertainment and its former head of global esports; Kevin Lin, the co-founder of Twitch; and Marc Merrill, the co-founder of Riot Games.