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Sources: TSM to receive $25 million investment from Bessemer

LoL ESPN

SoloMid Corporation have agreed to terms of a pending contractual agreement that will see it receive $25 million in investment from Silicon Valley-based venture capital firm Bessemer Venture Partners, sources close to the esports company and the firm told ESPN.

Bessemer is the lead investor in an open funding round, contributing over half of what SoloMid is seeking to raise in the coming weeks and months. The specific evaluation for SoloMid was not disclosed, but its peers -- such as Cloud9 and Immortals -- have recently been evaluated around $105-140 million in total worth. SoloMid, which holds both Team SoloMid and a number of popular gaming websites like ProBuilds, is believed to be worth similar or more, according to sources.

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