A minority stake in homegrown gaming chair brand Secretlab has been taken by TEMASEK-OWNED Heliconia Capital Management, the deal is estimated to be $140m-$210m.
This is the first outside investment for Secretlab, which was founded in 2014 by former professional gamers Ian Alexander Ang, 27, and Alaric Choo, 31.
With this investment Secretlab now joins the ranks of other companies backed by Heliconia such as gaming hardware manufacturer Razer and mixed martial arts company ONE Championship.
The mandate of Heliconia is to identify and support Singapore-headquartered companies to become globally competitive companies.
A media release on Tuesday revealed that the backing of Heliconia will boost Secretlabs research and development initiatives, procurement of supply chain, along with the ability to attract talent and global partnerships that will take it to the next level.
Secretlab currently has just over 60 staff in Singapore however their chairs are sold in over 50 countries, with over 200,000 sold to date.
On the partnership, Mr Ang said: “We’ve never seen ourselves taking up an outside investor, as we’ve always done things in our own unique way, and Secretlab is a self-sustaining business.”
But the team at Heliconia and Temasek changed their minds. “We see this as adding turbos to our engines, and we can’t wait to see where we can journey with them,” said Mr Ang.
Heliconia CEO Derek Lau said that despite Secretlab being founded only a few short years ago, it is now a “recognised global brand” well-known for its gaming seats.
“Even non-esports fans love their products. We believe the company has significant growth potential,” he said. “We hope to add value and journey with them going forward.”