Manny Pacquiao invests in Singaporean mobile gaming company

Boxing legend Manny Pacquiao has bought into a Singapore-based mobile gaming company.

Manny, who’s just won a Senate seat in the Philippine elections last month, snapped up a small stake in Gtoken for an undisclosed amount. The parties formally inked the deal in the boxer’s hometown General Santos City in southern Philippines over the weekend.

Gtoken declined to reveal the specifics of the deal when asked.

The company publishes crowdsourced mobile games and developed a virtual currency that players can earn and use for in-app purchases. It also set up a loyalty rewards program where users can redeem limited edition items for the games they play once they achieve VIP status. Now valued at US$60 million, the company has over a million users to date across Southeast Asia, Taiwan, and China, according to a company statement.

Gtoken’s founding investors include Ivan Lee, a serial entrepreneur whose previous food and beverage company was acquired for over US$73 million. Ivan is also the founder of Raging Bull, a private investment fund focused on tech.

Manny ranked as the world’s second highest-paid celebrity, falling behind his rival Floyd Mayweather, in Forbes’ 2015 list. The two athletes’ epic fight in Las Vegas last year helped boost their rankings. Manny also sourced a part his wealth from various endorsement deals with brands such as Nike, Foot Locker, Wonderful Pistachios, Nestle’s Butterfinger, and a handful in the Philippines.

Nike however cut its ties with Manny early this year after his controversial remarks where he said gay people were “worse than animals.”

Manny made the derogatory remarks in a television interview aired in the Philippines.

Other brands including Wonderful Pistachios also distanced themselves from the boxer, saying they didn’t share his views. “Wonderful Pistachios is not currently affiliated with Manny Pacquiao nor do his views align with ours,” the company’s spokesperson Jennifer George was quoted as saying in a February USA TODAY report. “Wonderful Pistachios stands firmly for diversity and equality and we proudly support marriage equality and inclusion around the world.”

(Last updated at 2:45 pm on June 6.)