Rick Fox and investors form private equity firm with esports focus

Three-time NBA champion Rick Fox and his League of Legends team Echo Fox have a meeting during the 2016 NA LCS summer split. Provided by Riot Games.

Echo Fox owner Rick Fox, along with fellow investors, has formed a private equity firm with a focus on esports, the new venture announced Thursday.

The firm, Vision Venture Partners, "has officially launched with initial investments in the hyper-growth esports, digital entertainment and lifestyle food and beverage sectors," according to a statement from the company. VVP is also comprised of Echo Fox CEO Jace Hall, former San Jose Sharks co-owner Stratton Sclavos and fellow Echo Fox investor Amit Raizada.

"Between the four of us, we've achieved decades of demonstrable business success and value creation," said Raizada, who was previously the CEO of Spectrum Business Ventures, a Missouri-based investment firm. "We're dedicated to building equally passionate and successful management to grow all our ventures."

Fox, a three-time NBA champion who played for the Boston Celtics and Los Angeles Lakers, purchased Echo Fox for a reported $1 million in December 2015. He and his partners will work out of Beverly Hills, California. VVP will initially focus on production and esports content creation as well as video distribution, according to the statement, and has future announcements planned for related projects.

"We're already setting the standards in esports," Fox said, "and we'll do the same in other sectors. We want to ensure each portfolio company gets the resources they need to win."