- Manny Pacquiao forayed into a new field by investing in a mobile gaming company
- The newly-elected senator acquired a “meaningful” stake in GToken
- GToken is a Singapore-based company currently valued at $60 million with over 1 million users
Newly elected Philippine senator Manny Pacquiao entered a new field when he made a significant investment in a Singaporean mobile video gaming company.
In an article she wrote for Tech in Asia, Judith Balea said the Filipino boxer-turned-politician acquired “a meaningful stake” in GToken; a Singapore-based company that publishes crowd-sourced mobile games, for an undisclosed amount.
The deal was formally signed in Pacquiao’s hometown General Santos City in South Cotabato over the weekend. Both parties, however, are mum on the details of the deal.
GToken, established only in late 2014, is currently valued at $60 million and has over one million users across Souhteast Asia, Taiwan and China.
Some of GToken’s latest games are Pocket Races GT and EndGods League of Gods.
In a statement, Kenneth Mark Yong, the Chief Executive Officer of GToken, said: “Since our launch in Singapore in December 2014, GToken has garnered strong partnerships and support from the booming mobile gaming community across the region.”
Yong said he was honored Senator Pacquiao believed in the company.
“We are especially honored to have Senator Manny Pacquiao believing and investing in our vision to build the fastest growing crowdsourcing community for gamers, developers and publishers alike,” he said.
Pacquiao joins Ivan Lee, an entrepreneur whose previous food and beverage company was acquired for over US$73 million, as investors in GToken. Lee was a recipient of Singapore Youth Award for Entrepreneurship, the highest accolade bestowed to Singaporeans under 35, several years ago.
Pacquiao, the world’s second highest-paid professional athlete as per a list published by Forbes in 2015, said he is proud to be part of the GToken team.
“As a world champion in professional sports and a fighter all my life, I know what it takes to succeed on the global scale. I’m confident that GToken has that special fighting spirit to be one of the strongest global players in the mobile gaming and advertising space and I’m proud to be part of the team,” he said.