E-sports startup Ampverse raises US$12m in Series A round

AMPVERSE, an e-sports startup based in Singapore, has raised US$12 million in a Series A round led by global investor Falcon Capital. Falcon Capital's portfolio includes technology and entertainment companies, including video-sharing platform Triller, which is set to go public soon.

The funds will be used for expansion in Indonesia and the Philippines, expanding the play-to-earn business unit, and acquiring more e-sports teams.

Ampverse plans to acquire play-to-earn guilds as it moves into the play-to-earn space, which it says complements its e-sports intellectual property business.

Other investors in the Series A round include existing backers Singapore-based fund Vulpes and Australia-based Gandel Invest.

Ampverse is also backed by Rob Gilby, the former managing director at The Walt Disney Company South East Asia; David Ng, chief executive of mobile game publisher GoGame; Michael Patent, CEO of sports and entertainment agency Culture Group; and Marcus John, CEO at sports advisory firm Sports Capital Advisors.

The-Wolfpack, a venture firm founded by former executives at global advertising and media company GroupM and global sports, events and talent management company IMG, invested in Ampverse in an earlier round.

Ampverse CEO Ferdinand Gutierrez said the company's revenue grew 125 per cent over the last 12 months, amid an expansion into Vietnam and India, and a growth in its e-sports assets portfolio.