Target: 8 figures of investment yearly in Web and Mobile
Garena, the largest regional game publisher in Southeast Asia, announced the formation of Garena Ventures, a dedicated venture capital arm with yearly targets upwards of 8 figures in investments to be funneled toward ventures in Web and mobile.
The well known gaming publisher began in Singapore as a platform facilitating remote, multiplayer connectivity for online gaming. The company has since exploded to encompass the totality of the SEA market establishing their presence in Malaysia, Thailand, Vietnam, Taiwan, Indonesia, and the Philippines.
Garena now boasts a registered user base exceeding 40M from a pool of over 200 countries.
Playing for keeps
Shooting for a year long recurring time frame of 8 figure investments is questionable for such a volatile market, especially for a VC firm new to the game. Still, Garena has accumulated the extra lives to make such a play as they seem intent on doing.
What there is little question about is the effect Garena is poised to have on the regional investment market by cannonballing into the water, as it were, rather than the tentative toe testing you usually see from new entrants on the whole.