September 05, 2016
Garena Welcomes Singapore’s SeaTown Holdings, Indonesia’s Global Digital Prima Venture, and Japan’s Mistletoe as New Investors
March 31, 2016
Garena Raises USD 170 Million in Series D Funding Round, Increasing Total Capital Raised to Over USD 500M
Garena: Southeast Asia’s Most Valuable Startup Running Toward an IPO
Bloomberg, August 30 2016
In an exclusive interview, Bloomberg’s Yoolim Lee speaks to Garena’s Founder and Group CEO, Forrest Li, to find out the secret behind the rise of Southeast Asia’s most valuable startup.
Established in 2009, Garena found early success in Singapore and quickly grew into one of the biggest internet startups in Greater Southeast Asia, with a valuation exceeding US$3.75 billion. Inspired by Steve Job’s commencement speech, Li embarked on his Garena journey and aspires to build Garena into a US$100-billion consumer company in 10 years. It has set its eyes on a U.S. initial public offering in the near future, with possibly a secondary listing in Southeast Asia.
Having established itself as a leading digital content platform provider, Garena quickly expanded its internet services to ride on the region’s eCommerce wave and to also cater to the unbanked population in ASEAN. Its newly-launched C2C mobile marketplace Shopee and payment services AirPay are targeting a region with 620 million consumers. Offering the unique eCommerce-payments-digital content composite, Garena aims to become the dominant internet player in the region.
To date, Garena has raised more than US$500 million, with the most recent Series D round in March 2016. Currently, its distinguished list of investors include Tencent, Keytone Ventures, Khazanah Nasional Bhd, General Atlantic and Ontario Teachers’ Pension Plan.
Game for Garena: Singapore's Answer to Tencent and Alibaba
Forbes Asia, July 2015 Edition
Forbes’ Jessica Tan gets to know Garena’s Founder and Group CEO, Forrest Li, and finds out how he stumbled in his first venture and later went on to found Southeast Asia’s largest internet company.
From a small team in a Singapore shop house six years ago to a 3,000-strong regional team today, Garena has grown to become one of Southeast Asia’s largest and most successful start-ups. In this exclusive interview, Li explains how Steve Jobs’ speech at Stanford ten years ago inspired him to embark on his first internet venture.
Today, Garena is Singapore’s first ‘unicorn’ internet company – joining a rarefied group of start-ups with valuations of over a billion dollars. With the company’s roots in entertainment and digital content, Garena has amassed over 140 million users in the region. Since then, Garena has extended its reach to other services such as social & commerce, communication and financial services, geared towards serving the underserved consumers in Southeast Asia.
Garena’s investors include General Atlantic, and the Ontario Teachers’ Pension Plan. Garena has also been doing plenty of investment of its own; for example, putting its weight behind Redmart, the online e-commerce grocery business, to foster the internet start-up ecosystem in Southeast Asia.
For Li, the business is about continually pushing the boundaries to achieve the unimaginable.
GARENA IN THE NEWS
Awards and Recognition
EY Entrepreneur of the Year 2015 (Internet and Mobile) – Mr Forrest Li, Founder, Chairman and Group CEO of Garena
The EY Entrepreneur Of The Year™ Awards honors the exceptional achievements of the best entrepreneurs globally. It is a unique platform that facilitates the exchange of ideas and opportunities.
Singapore Venture Capital & Private Equity Association's VC Deal of the Year award 2015
SVCA presents a set of awards to participants in the Venture Capital and Private Equity industry. The VC Deal of the Year award is given to sponsors based on their investments in a portfolio company.
Deloitte Technology Fast 500 Asia Pacific 2015
The Deloitte Technology Fast 500 Asia Pacific is the pre-eminent technology awards program in Asia Pacific and includes nine APAC locations, namely Australia, China (including Hong Kong), India, Japan; South Korea, Malaysia, New Zealand, Singapore and Taiwan. The award winners are selected based on percentage fiscal year revenue growth during a 3-year period.
Red Herring 100 Asia 2012
Every year, the Red Herring editorial team will select a group of companies for the Red Herring 100 Asia Award. The list represents the most innovative and promising companies from a pool of hundreds from across Asia. The Finalists are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, IP creation, CAGR, execution of strategy, and disruption in their respective industries. These companies will face off for the prized Top 100 Asia Award.
World Startup Report 2014
Garena was valued at USD 1 billion and ranked as the largest Internet company in Singapore
Speeches and Interviews
Featured Speeches and Interviews
Converge, Hong Kong
3 June 2016
Garena's Nick Nash joined ZhenFund's Anna Fang to discuss how failure will help Asia's entrepreneurs. The two panelists spoke openly about education reforms and the ability to fail as key to the Asian tech scene.
World Economic Forum on ASEAN, Kuala Lumpur
1 – 2 June 2016
Themed 'Shaping the ASEAN Agenda for Inclusion and Growth', this year’s WEF meeting brings together a panel of speakers from Garena, Telenor Group, MDEC and Matahari Mall to discuss how digital innovation can be further encouraged in order to transform the ASEAN region. Group President, Nick Nash, spoke about connecting the unconnected, extending innovation and driving polices to support digital transformation.
RISE, Hong Kong
31 May – 2 June 2016
RISE 2016 brought together the world’s biggest companies and most exciting startups to share their stories and experiences. Nick Nash of Garena Group and Alec Macfarlane of The Wall Street Journal engaged in a fireside chat to talk about business diversification strategy and rationale in Garena.
Credit Suisse 19th Annual Asian Investment Conference, Hong Kong
5 – 8 April 2016
Technology is emerging as a critical factor in not only the success but also the survival of many financial services providers and we have seen a recent upsurge of start-ups in the fintech sector looking to shake up the financial services market. How are companies incorporating new technologies into their platforms to increase market share and tap into customer demand – and what does the future hold for those companies that are slow to adapt? Nick Nash, Group President of Garena, joined fellow panelists from Ant Financial and CBA to discuss the investment opportunities that the changing regulatory environment has created for financial institutions and some of the challenges that may arise in this field.
The single biggest opportunity is not: how I can take away revenue from banks, it’s: how can we serve markets banks have abdicated or ignored.
Nick NashGroup President
The Bloomberg ASEAN Business Summit, Bangkok
3 – 4 December 2015
Bloomberg ASEAN Summit gathers business leaders to take a deeper look into ASEAN’s future trajectory and identify emerging opportunities. Speaking on the panel “Grabbing the ASEAN Innovation Opportunity”, Nick Nash, Group President of Garena, joined speakers from Uber, PWC and Microsoft to discuss the tech ecosystem in the region which supported latest innovations and the necessary infrastructure/systems to support them.
Forbes CEO Conference, Manila
12 – 14 October 2015
In its 15th year, Forbes Global CEO Conference focused on the theme of visionary leadership – how leaders at the helm of great companies conceive and articulate vivid visions that capture the imagination of their teams, inspire confidence among investors, and win the hearts and minds of consumers. There, Forrest Li, Founder and Group CEO of Garena joins a distinguished panel of speakers from Qiming Venture Partners, Facebook, Infosys and Baidu to discuss how technology and innovation are driving revolutionary change across the world. Panel was moderated by Rich Karlgaard, Publisher from Forbes Magazine.
Milken Institute Asia Summit, Singapore
17 -18 September 2015
Disruptive technology has transformed the way people think, communicate, work and play. Garena’s Group President, Nick Nash shares his perspective on how investors can identify the next wave of investment and finance the next ground-breaking innovation. With Asia’s increasing smartphone and internet penetration, the world’s next great consumer market holds boundless opportunities for tech innovators, venture capitalists and investors to tap into.
Asian Venture Capital Journal (AVCJ) 5th Annual Private Equity & Venture Forum, Singapore
20 – 21 July 2015
In its 5th year, the annual Private Equity & Venture Forum addresses the question of how investors can better navigate the risks and rewards of the ASEAN opportunity.
Nick Nash, Garena’s Group President, joins a panel of speakers to shed light on how PE and VC firms can provide value add to their portfolio companies today and help them achieve their growth potential.