A funding round led by 21st Century Fox has secured a $100 million dollar investment for rising streaming platform, Caffeine.

Other contributors included existing Caffeine investors Andreessen Horowitz and Greylock Partners.

New venture

The investment introduces a new venture called Caffeine Studios, which is joint-owned by Caffeine and Fox. The amount given by each investor was not disclosed.

Fox hopes to bring its expertise in live programming to Caffeine's existing platform, creating new opportunities for esports, gaming and sports creators. Fox Executive Chairman Lachlan Murdoch will also join Caffeine's board, as well as serving as CEO of Caffeine Studios.

In addition to the investment, Caffeine also announced a partnership with Live Nation, in order to bring music concerts and events to the platform.

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