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The Esports MX LATAM Fund, a group of Mexico-based investors and family offices in media, entertainment, finance and other industries, have invested in the Pittsburgh Knights. The two plan to jointly set up an affiliate esports team organization in Mexico in the framework of the Knights’ organizational and operational model.

The amount raised was $2.94 million, according to PitchBook.

“There is a strong strategic alignment with the Esports MX LATAM Fund’s vision and our investment group’s plans,” Knight President James O’Connor said, in a statement. “Partnering with Han (Park) and his investment partners in Mexico is another great step for the Knights as we grow our global footprint. We see the same dedication, loyalty and zeal for sports there that we do in Pittsburgh. Mexico has a lot to offer in terms of talent and logistics that make this venture an ideal opportunity to build something special for both Mexican and global esports.”

The Knights, founded in 2017 as a professional esports franchise, whose players participate in video game competitions in front of millions of fans in person and online, has raised a total of $3.24 million in angel funding, according to PitchBook.

The Pittsburgh Steelers invested in the Knights in 2018. This past July, the company announced a strategic partnership with multi-platinum recording artist Wiz Khalifa.

Esports MX LATAM Fund seeks to invest and work with successful international esports organizations and companies to create and expand esports opportunities in Mexico and Spanish speaking Latin American markets through co-investments, partnerships and joint ventures. The fund’s general partners include Park, former president of ESL America with 20 years experience in gaming and esports; Richard Jun, managing partner of Bam Ventures; Mark Alazaraki, CEO of Alazaraki Networks; Allan Kaye Trueba and Luis Alberto Aziz, general partners of Aziz & Kaye; Sergio del Valle, managing partner of Canvas Partners; and Luis Ahumada and Kevin Park, founding partners of Docent Capital.