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Garena announces new investment from SeaTown, GDP Venture, Mistletoe

Monday, September 5, 2016 - 15:57

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GARENA, a Singapore-based Internet company and reportedly South-east Asia's largest unicorn (privately valued at US$3.75 billion), on Monday announced a new investment from SeaTown Holdings International, Global Digital Prima (GDP) Venture, and Mistletoe.

GARENA, a Singapore-based Internet company and reportedly South-east Asia's largest unicorn (privately valued at US$3.75 billion), on Monday announced a new investment from SeaTown Holdings International, Global Digital Prima (GDP) Venture, and Mistletoe.

The investment amount was not disclosed by Garena, which has raised over US$172 million in venture capital since its 2009 founding.

Singapore-headquartered SeaTown is a wholly-owned subsidiary of Temasek Holdings and was established in 2009 as an investment manager focused on absolute returns.

Indonesia-based GDP Venture was founded in 2010 as a venture builder focused on digital communities, media, commerce, and solution companies.

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Japan-based Mistletoe, founded in 2013, is an organisation committed to social impact through investing, co-founding startups, and nurturing ecosystems.

Garena founder Forrest Li said: "Their insights and connectivity across the region will support and accelerate our mission to connect the dots for our customers."

The company offers interactive digital content, eSports, e-commerce and online payment products and services. Garena has reportedly achieved compound annual growth of more than 95 per cent over the past five years to over US$300 million in gross revenue in 2015.

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