Radnor-based venture capital firm SeventySix Capital has acquired an equity stake in a Philadelphia company that produces esports events that feature competitions among video game players, writes John George for the Philadelphia Business Journal.

The amount of its investment in N3rd Street Gamers is being kept confidential, but a spokeswoman for SeventySix Capital of Radnor, Pa., said it was in the firm’s typical range of $250,000 to $1 million. A private investor, George Miller, also participated in the funding round.

N3rd Street Gamers, founded in 2009, describes itself as a company that “empowers esports communities with arena facilities, production studios, gaming equipment, administration and broadcast services.”

SeventySix Capital is led by Wayne Kimmel, Jon Powell and former Philadelphia Phillies first baseman Ryan Howard, who joined the firm earlier this year, the story continues.

The company, part of the Jarvus Innovations family of companies, is led by entrepreneurs John Fazio and Rob Hilsky.

Fazio said his company plans to use the funds to double the size of its esports arena, Localhost, in the Northern Liberties section of Philadelphia; to build a full-time broadcast studio; and expand the number of PCs and consoles they have.

“Our goal is to create a national infrastructure for in-person esports competitions and player development,” Fazio said. “We intend to expand to as many locations as feasible. We are hoping to have two additional locations outside the state opened up in the next 18 months.”

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