Singapore esports startup Ampverse raises $12m in Series A funding

Ampverse, a Singapore-based esports startup with offices throughout Southeast Asia and India, announced that it raised $12 million in a Series A funding round led by global investment fund Falcon Capital.

The startup said the fundraise was the largest to date of any esports organisation in Southeast Asia.

The fresh capital will allow Ampverse’s expansion into the Indonesian and the Philippine markets, further esports team acquisitions and are earmarked to scale Ampverse’s play-to-earn business unit. This includes acquiring play-to-earn guilds as Ampverse dynamically moves into the P2E space to complement its existing esports IP pillar, according to the announcement.

The round also included follow-on investment from both Singaporean fund Vulpes and Gandel Invest, both of whom participated in prior Ampverse rounds.

New Series A investors join a list of distinguished strategic investors from the worlds of gaming, media, sports and esports. These include Rob Gilby, former Disney SEA MD, David NG, CEO GoGame, Michael Patent, CEO Culture Group, Marcus John, former VP Lagadere and Wolfpack Fund—founded by former IMG and Group M executives.

Ampverse CEO Ferdinand Gutierrez said the startup has witnessed tremendous growth over the last twelve months, with 125% revenue growth and expansion into the Vietnamese and Indian markets, while also strengthening its esports assets portfolio.

“We will utilise these funds to move forward to solidify our position within Southeast Asia by continuing our expansion into Indonesia and the Philippines. We are also thrilled to continue scaling our esports and new play-to-earn business unit through further M&A,” he added.

Falcon CEO Wil Rondini, stated, “Falcon is ecstatic to lead the Ampverse Series A round together with Vulpes and Gandel Invest and to join earlier leading investors from the esports, media and entertainment sectors. The growth that the Ampverse team have delivered in a short period is monumental. With their continued esports M&A strategy and play-to-earn vision, we know that the future is bright for Ampverse”.