Shanghai-based esports tournament company VSPO raised a $265M Series C from Saudi Arabia's Savvy Games Group, seeking to reboot pro gaming in China after a lull (Zheping Huang/Bloomberg)

Zheping Huang / Bloomberg:

Shanghai-based esports event firm VSPO raised a $265M Sequence C from Saudi Arabia’s Savvy Video games Group, searching for to reboot professional gaming in China after a lull  —  Saudi Arabia’s wealth fund has made its first main foray into the Chinese language video games market, betting on a Tencent Holdings Ltd.-backed esports event organizer.