Tembusu Partners invests US$1m in e-sports company RSG
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RSG, a Singapore-based professional e-sports startup, has snagged US$1 million from private equity firm Tembusu Partners' FrontSight Capital Fund.
Founded in 2017, RSG currently has a presence in Singapore, Malaysia and Vietnam. Its e-sports teams specialise in games such as Mobile Legends, PUBG, Call of Duty and Warcraft, and have collectively participated in over 200 tournaments.
FrontSight Capital's investment in the company is the first of up to 10 planned investments of US$1-2 million each in South-east Asian e-sports teams and companies.
"While the US and China currently lead the global gaming industry, the growth journey for South-east Asia's e-sports sector has only just begun," said William Cao, managing partner at FrontSight Capital.
According to market research firm Newzoo, revenue from e-sports in South-east Asia is expected to grow at an annual rate of 24 per cent from 2018 to 2023, one of the highest globally.
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