Singapore Esports Group Team Flash Scores US$1.5m in Seed Funding

Singapore-headquartered esports organisation Team Flash announced that it has raised US$1.5 million in its first seed round with family office Octava as the sole investor.

Founded by Terence Ting and Samson Oh in October 2017, Team Flash claims to be Southeast Asia’s top esports group, wining more than US$620,000 in prize money. The amount is the highest for an esports group based in the region.

Employing more than 30 professional esports players and content creators, Team Flash empowers esports athletes to pursue professional careers in competitive gaming.

It currently has teams playing Arena of Valor, League of Legends, FIFA, and PUBG Mobile, with more than 2 million fans across teams and channels.

In a statement, Team Flash said it will utilise the fresh funding to further expand internationally. It will also further secure the group’s market leadership in Vietnam, where it is already considered as the top esports group.

Team Flash will also continue to recruit the best esports players in the region and launch a dedicated merchandising team later this year.

The group’s Vietnam team recently bagged the championship at the AOV World Cup, where it took home US$200,000 in prize. It was Vietnam’s first international title in the field of esports.

The group’s CEO Terence Ting said Southeast Asian esports players lag behind their international counterparts because of the lack of infrastructure and capital investment.

The objective of Team Flash is to showcase talent from the region on the international stage and build a proper career path for its players, Ting added.

Octava, the lead investor in the seed funding round, is a Singapore-based family office. It invests across various industries with focus on financial technology, property development, real estate investment, biosciences, education, lifestyle concepts, and venture capital funds.

The investment marks Octava’s inclusion of esports as one of its investment verticals.