Social gaming platform Garena receives the support of Malaysian strategic investment fund Khazanah Nasional leads a $170m series D round.
Garena Interactive, a Singapore-based provider for online PC and mobile digital content, has closed a $170m series D round led by Khazanah Nasional, the sovereign wealth fund of Malaysia, Tech in Asia has reported.
The deal values Garena at approximately $3.75bn, according to the Wall Street Journal. Additional investors in the round have not been named.
Founded in 2009, Garena launched its first product, online social gaming platform Garena+, the following year. The company has since expanded its offering to include Beetalk, a mobile social network, Airpay, a payment system for bills, utilities and e-commerce sites, and Shopee, a social-based marketplace.
To date, Garena has raised more than $500m in funding. Existing investors include General Atlantic, the Ontario Teachers’ Pension Plan and Keytone Ventures.
Forrest Li, founder of Garena and chairman and chief executive of the group, said: “Khazanah’s experience in building leading businesses will help us strengthen our leadership position across our digital content, e-commerce, and payment platforms and advance our global mission of ‘connecting the dots.’”