Victory Five, an e-sports team that competes in the Chinese LPL League of Legends, has struck a partnership agreement with BYD Auto, a Chinese automaker. The sponsor’s logo will appear on the left side of the V5 form and will also appear on the club’s social media platforms.
One of the reasons for the partnership was that Victory Five is based in Shenzhen, where BYD Auto is also headquartered. It is this city that will host the 2021 World Championship in the fall. Victory Five has been in the Chinese LPL since Spring 2019. In the same year, V5 raised around 100 million RMB ($14.12 million USD) in a Series A investment round with unnamed investors in 2019.
BYD Auto is a division of BYD Co. Ltd., a Chinese multinational corporation. Warren Buffett’s Berkshire Hathaway Energy holding purchased roughly 10% of BYD shares for HK $ 1.8 billion ($ 2.32 million) in 2008, becoming it the company’s largest foreign shareholder. According to Buffett’s letter to Berkshire Hathaway shareholders, the company owns 8.2 percent of BYD shares with a total value of $ 5.9 billion as of the end of 2020.