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'Unicorn' Garena bags US$170m in Series D funding

The funding round led by Khazanah will go into developing its digital content, e-commerce and payments business

Singapore

SINGAPORE tech "unicorn" Garena has raised US$170 million in Series D funding led by Khazanah Nasional Bhd, the strategic investment arm of the Malaysian government, taking total investment to date past US$500 million.

The Series D round, one of the largest in South-east Asia recently, will be used to develop its digital content, e-commerce and payments business.

Forrest Li, chief executive of the 2009-founded startup which first made its mark in gaming, said: "With this new round of capital,...

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