US-based gaming hardware maker Razer closes Series C, valued at $1.5b

Visual of Razer portal. February 2016.

US-based gaming hardware maker Razer has closed series C investment, granting it a post-money valuation of $1.5 billion.

Intel participated in an October 2014 investment that resulted in a post-money valuation of $1 billion, taking the US firm to the unicorn club.

The latest investment comes from a syndicate that includes LianLuo (formerly Beijing Digital Grid), a subsidiary of IT company Hangzhou Liaison Interactive, according to Techcrunch.

In a corporate statement, Hangzhou confirmed it had invested $75 million in the Series C investment for a 5.01 per cent interest in Razer through, as well as its valuation, Reuters reported.

The involvement of Japan-based Digital Grid, which has also made investments into the smart devices and virtual reality (VR) sector, reflects the potential of the VR segment, estimated to reach a capitalisation of $80 billion by 2020

Companies like Facebook are already adapting to and preparing for the growth of this sector, much like Razer, which is intent on maintaining its position as a premier gaming hardware developer.

This also synchronises with statements made during an online public interaction facilitated by Tech in Asia with Razer CEO and co-founder Tan Ming-Lian. In response to a question of virtual reality, Tan responded: “I’m excited about VR and that’s why we’re the prime movers behind OSVR (Open Source VR) – osvr.com. I think it’ll take some time to get to mainstream but we’ve got a better opportunity now than ever before.”

Razer is likely to raise larger funding rounds, given investor fear of missing out (FOMO) is driving larger financings in deals, combined with the entry of hedge funds and mutual funds, which has led to larger deal sizes.

Also Read: VC Roundup: MyState raises $6.5m; KR Space Series A round values it at $150m

VC Roundup: MyMusicTaste gets $10m Series A; MultiPhy secures $17m investment

VC Roundup: Qlapa gets seed investment; DeePoon secures $30m Series B funding

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.