Private equity firm CVC has agreed to invest in online chess platform Chess.com, according to PE Hub. The deal marks CVC's entry into the digital gaming and entertainment space, with existing backer General Atlantic maintaining its stake in the company. This investment signals growing institutional interest in online gaming platforms that have gained mainstream popularity.

Chess.com has emerged as the leading destination for online chess players, particularly during the pandemic surge in gaming activity. The platform attracts millions of users globally and has become a central hub for competitive chess, casual play, and instructional content. Private equity firms have increasingly targeted gaming companies as the sector shows consistent user engagement and monetization opportunities.

CVC's investment provides Chess.com with additional capital to expand its offerings and potentially pursue acquisitions. General Atlantic's continued involvement suggests confidence in the platform's growth trajectory. This partnership positions Chess.com to compete more aggressively in the growing online gaming market where user retention and premium subscription models drive revenue.