Razer CEO to invest $7.2m to drive growth in Singapore’s gaming scene

Min-Liang Tan, co-founder and CEO of Razer, announced he will be pouring S$10 million (US$7.2 million) into Singapore’s gaming scene over the next 12 months.

Team Singapore (foreground) training against Team Thailand in the recent Razer SEA Games Esports Bootcamp held in Singapore from September 2 to 3, 2019 / Photo credit: Razer

With the investment, Tan looks to support esports teams and gaming companies based in the city-state or founded by Singaporeans.

“This funding will also go in part to Team Singapore, which we are supporting for the SEA Games (which we are also the official esports partner) later this year where esports will be, for the first time ever, a medalled sport,” Tan said in a Facebook post.

As part of its involvement in the 30th SEA Games 2019, the company recently held the Razer SEA Games Esports Bootcamp in Singapore, gathering national teams from Singapore, the Philippines, Malaysia, Thailand, and Indonesia.

It has also invited US-based esports organization Evil Geniuses to train the teams in Dota 2, one of the six official titles included in the SEA Games.

According to a statement, Razer currently works with 18 professional esports teams collectively known as Team Razer, with players from over 25 countries.

The Singapore- and US-based company also opened its new RazerStore in Las Vegas, its largest retail store to date that will also accommodate esports events in partnership with other industry players.

Founded in 2005, Hong Kong-listed Razer now has 18 offices worldwide, including one in Singapore that houses about 500 staff members. The company looks to double its headcount over the next few years as it moves into its Southeast Asia headquarters in the city-state in 2020, Tan said.

Esports is a key focal point in the growth strategy of Razer, which posted narrowing losses in its first full-year report since it went public in 2017. Part of its growth plans is a partnership with Chinese tech giant Tencent on mobile gaming.

Currency converted from Singapore dollar to US dollar: US$1 = S$1.38.