Razer raises $50 million in first VC round
Peripherals manufacturer plans to invest in technology and innovation
Razer, the US peripherals manufacturer, has netted $50 million in its first round of venture capital funding, which was headed up by IDG-Accel.
"We took a long time raising our first VC round as games like Battlefield 3 kept us pretty busy recently," said CEO Min-Liang Tan.
"More importantly, we took our time selecting an institutional investor as we wanted to find a partner that understood our commitment to gaming and our no-compromise attitude to designing products. Plus these guys didn't freak out when we disappeared for a week in the middle of the deal when Skyrim launched."
The investment will go towards new technology and expanding the company's design portfolio. Previously the company has relied on angel investors for funding.
"Given our global reach, we wanted an institutional partner who didn't just provide funding but could also help us scale. IDG-Accel is a global fund and their relationships in the US and China will definitely be complementary for our worldwide businesses," added Tan.
"We've been having fun and kicking ass while being funded by our internal operations these couple of years - now imagine the kind of badass products we'll be designing with the resources that IDG-Accel will bring to the table. I just hope that IDG-Accel is aware that our board meetings generally start with a game of Counterstrike and the losers have to buy coffee."
Last month Tan appealed on Facebook for the return of stolen laptops after a break in at the company's San Francisco office.