Team Flash locks down US$1.5m in seed funding to further boost Southeast Asia’s esports ecosystem
This is the esports organization’s first round of institutional funding, led by Singapore-based family office, Octava, signaling growing confidence in SEA’s expanding esports market
Singapore, 2 September 2019 – Team Flash, Southeast Asia’s (SEA) leading esports organization headquartered in Singapore, has secured US$1.5 million (S$2,084,000) for its first seed round. The entire round was led by a Singapore-based family office, Octava, which has recently included esports as one of its investment verticals.
As one of the region’s top esports organizations, Team Flash has won more than USD$620,000 in prize money since its inception two years ago – one of the highest prize totals for an esports organization based in Southeast Asia.
The raise will be used mainly for international expansion and to secure Team Flash’s market leadership in Vietnam, where the company is already seen as the top esports organization in the country. Additionally, the funding will enable Team Flash to continue recruiting the best esports players and content creators across the region, focus on bringing in brand sponsorships and media partners, as well as launching a dedicated merchandising arm later this year.
Team Flash currently employs more than 30 professional esports athletes and content creators in various game titles, including Arena of Valor (AOV), League of Legends (LOL), FIFA and PUBG Mobile across Vietnam, Singapore and Indonesia.
Team Flash’s Vietnam team was recently crowned world champions at the AOV World Cup, winning USD$200,000 in prize money and Vietnam’s first international title for esports. The same team also represented Vietnam at the inaugural Asian Games showcase in Jakarta last year. It’s League of Legends team has also progressed to the finals of the Vietnam domestic league, on course to qualify for the LOL Worlds Championship 2019 in Berlin which had a total prize pool of USD$6.4 million last
Mr Terence Ting, CEO of Team Flash said: “With the rise of esports over the past decade, Southeast Asia has seen significant growth despite traditionally lagging behind our international counterparts due to a lack of capital investment and infrastructure. Our objective has always been to showcase talent from our region on the international stage and build a proper career path for our players.
“We are especially excited to announce the collaboration with this group of strategic investors who will greatly facilitate Team Flash’s sprint towards this vision to bring esports further into the mainstream. Our goal is to establish Team Flash as an international esports organization in the next 12 months, alongside our dedicated team members across the region,” added Ting.
Mr Tan Ting Yong, Investment Director at Octava said: “Southeast Asia has the fastest-growing esports demographic in the world and is at the cross-section of powerful trends like social connections and digital consumption of video. Looking ahead, we believe teams will benefit from the structural growth of esports into a fully-fledged professional sport. Team Flash is well-positioned in the region to do this, given their record of excellence and community outreach programmes.”
Founded in October 2017 by Terence Ting and Samson Oh, Team Flash has gone from strength-to-strength in the last 12 months. It previously announced a one-year exclusive streaming rights deal with NimoTV in 2018, and also recently secured a sponsorship deal with Singaporean nutrition company Fitlion with more commercial and strategic partnerships scheduled to be disclosed in the coming months. The esports organization also announced a talent development partnership with the Singapore Sports Hub, reported in March earlier this year.
Other private investors before this fundraising round include regional sports marketing agency, Reddentes Sports. Their extensive experience in sports and media includes securing distribution rights to the Tokyo 2020 Paralympic Games, English League Championships and Carabao Cup amongst others.
About Team Flash
Team Flash is Southeast Asia's fastest growing esports franchise, empowering talented esports athletes to pursue a professional career in competitive gaming. The region’s leading esports organization has invested in talent and infrastructure across Vietnam and Singapore – currently holding a portfolio of 4 professional teams in Arena of Valor, League of Legends, FIFA, and PUBG Mobile. With headquarters located in Singapore, Team Flash’s esports talent are located across Southeast Asia with a regional footprint of more than 2,000,000 fans across all team and player
Our vision is making gamers heroes and to become the face of esports in Southeast Asia, providing an authentic experience for both players and fans in our journey together to become global champions of the digital sport.
For more information head to: www.teamflash.gg
About Octava Pte Ltd
Octava is a family office based in Singapore that has multiple investments across diverse industries, focusing mainly on biosciences, real estate investment, property development, financial technology, venture capital funds, education, resources, and lifestyle concepts. Led by an experienced team, with extensive wealth of knowledge in the fields of business and management, Octava believes in long term sustainable investments and creating value through strategic partnerships.
More information available at http://www.octava.sg
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