Octava invests in Team Flash to expand business internationally and recruit esports players.
As a step towards their new investment venture in esports, Octava, a Singapore-based family office funds Team Flash $1.5 million in its seed round.
Funds will be primarily focused to further expand the business in Vietnam and to recruit more esports players and content creators. Proceeds will also be used for brand sponsorships and media partners, along with a merchandising arm later this year.
Mr Terence Ting, CEO of Team Flash, said:
“Our goal is to establish Team Flash as an international esports organisation in the next 12 months, alongside our dedicated team members across the region.”
Team Flash is a Southeast Asian professional esports organization with teams competing in various game titles such as Arena of Valor, League of Legends and PUBG Mobile. They currently employ over 30 professional esports athletes and content creators and has accumulated over $620,000 in prize money since its inception in 2017.
Team Flash’s Vietnam LOL team is also on course to qualify for the LOL World Championship 2019 in Berlin. The competition had a total prize pool of US$6.4 million in 2018.