Twenty-four-year-old German professional poker player Fedor Holz (pictured) has reportedly used some of his $27 million in career earnings to buy a minority stake in American eSports organization Envy Gaming Incorporated.
According to a report from ESPN, Saarbrucken-born Holz made the investment in the firm behind the Dallas Fuel and Team Envy squads during the second quarter of the year after earlier being introduced to the industry by leading eSports player Nathan Schmitt.
Holz, who holds one World Series Of Poker (WSOP) bracelet after winning the 2016 edition of the $111,111 buy-in High Roller For One Drop no-limit hold‘em event in Las Vegas, reportedly told ESPN that he had invested in Envy Gaming Incorporated after becoming ‘emotionally connected’ to the organization.
“I like Envy [Gaming Incorporated], I like to watch, I like the way they build their infrastructure and team, take care of their players, and it was just a corporation I wanted to be a part of in some way,” Holz reportedly told ESPN.
Established in Charlotte, North Carolina, Envy Gaming Incorporated later reportedly relocated to Dallas after selling a minority stake rumored to be worth $35 million to Texan private equity firm Hersh Family Investments. Despite paying $1.4 million for a spot in this season’s North American League of Legends Championship Series in October, the eSports firm was subsequently denied entry by competition organizer Riot Games and is now entitled to receive a $2.57 million exit payment.