21:58 (GMT +7) - Monday 21/09/2020


Team Flash picks up $1.5mn in funding to boost region's e-sports

Released at: 22:37, 05/09/2019

Team Flash picks up $1.5mn in funding to boost region's e-sports

Photo: Team Flash

Singaporean e-sports organization receives first seed-round financing from Octava.

by Khanh Chi

Team Flash, Southeast Asia’s leading e-sports organization and headquartered in Singapore, has secured $1.5 million in its first seed round, which was led by a Singapore-based family office, Octava, which has recently included e-sports as one of its investment verticals.

As one of the region’s top e-sports organizations, Team Flash has won more than $620,000 in prize money since its inception two years ago - one of the highest prize totals for an e-sports organization based in Southeast Asia.

The funds 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 e-sports organization.

It will also enable Team Flash to continue recruiting the best e-sports players and content creators across the region, focus on bringing in brand sponsorships and media partners, as well as launch a dedicated merchandising arm later this year. 

Team Flash currently employs more than 30 professional e-sports 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 $200,000 in prize money and picking up Vietnam’s first international title in e-sports.

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 and is on course to qualify for the LOL Worlds Championship 2019 in Berlin, which had a total prize pool of $6.4 million last year.

“With the rise of e-sports 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,” said Mr. Terence Ting, CEO of Team Flash. “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 of bringing e-sports further into the mainstream. Our goal is to establish Team Flash as an international e-sports organization in the next 12 months, alongside our dedicated team members across the region.”

“Southeast Asia has the fastest-growing e-sports demographic in the world and is at the cross-section of powerful trends like social connections and digital consumption of video,” said Mr. Tan Ting Yong, Investment Director at Octava.

“Looking ahead, we believe teams will benefit from the structural growth of e-sports 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 programs.”

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