Razer Inc leads $3.28m funding round of ASX-listed Esports Mogul

Min-Liang Tan, founder and CEO, Razer. Photo: Razer's Facebook page

Australian e-sports media firm Esports Mogul has raised $3.28 million (A$4.41 million) through an oversubscribed share placement round led by global major Razer Inc. The placement also saw a significant investment from Singapore-based technology firm Cloud Alliance.

The placement was supported by local institutions and existing strategic shareholders, an announcement said on Monday.

However, the final investment by other shareholders and Razer Inc, a company co-founded by Singaporean Min-Liang Tan and backed by heavyweight Asian investors, was not disclosed in the announcement by Esports.

Esports revealed that the proceeds will be used to accelerate the development of Mogul Arena, a tournament and matchmaking platform for mobile, and support user acquisition, and monetisation strategy.

The investment is also seen as an effort by Razor to deepen its play in the global gaming industry after its IPO at the Hong Kong stock exchange last year where the San-Francisco-headquartered Razor had raised around $500 million. Razor is backed by Hong Kong tycoon Li Ka-shing, Singapore’s Temasek Holdings and GIC including other investors.

Along with the current investment in Esports Mogul, Razor has also agreed to further strengthen its strategic partnership with the Esports Mogul in bringing esports innovation to gamers globally.

“Razer and Esports Mogul will chart new initiatives in the region to accelerate the proliferation of electronic payments and Razer zSilver virtual reward credits among gamers,” the statement said.

After a trading halt last week, there was an oversubscribed placement of 245 million fully paid ordinary shares to sophisticated and institutional investors at A$1.8c per share by Esports Mogul. The issue price represents a 20.55 per cent discount to the Esports Mogul’s Volume Weighted Average Price (VWAP) over the last 15 days the shares traded, being A$2.27c per share.

According to Cloud Alliance’ Co-Founder & Chairman, Roland Ong, the company will bring payment systems to gamers across the globe as it co-invests in Esports Mogul together with Razer at “such a crucial time of their acquisition and monetisation strategy.”

Esports Mogul, with an initial focus on Australia, Asia and Latin America, has at its core Mogul Arena – the tournament and matchmaking platform with full automation for major esports titles. Mogul Arena is currently available in English, Thai and Vietnamese with plans to roll out a localised language function in Spanish, Portuguese, Chinese and Indonesian.

It is estimated that there are currently 2.2 billion gamers across all platforms globally, and in 2017 the total video game market size was estimated to be $116 billion.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.