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Finance

Razer raises $50 million in first VC round

Wed 21 Dec 2011 9:29am GMT / 4:29am EST / 1:29am PST
HardwareFinance

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.

3 Comments

Ori Cohen CEO, Kentaura

1 0 0.0
Congrats! Skyrim comment was hilarious.

Posted:2 years ago

#1
Min is awesome. He's honest and funny, and clears a path for others to follow in that style... we need more like him leading the way.

Posted:2 years ago

#2

Oliver Bulloss Producer, Happylatte

3 0 0.0
Having got a Razor mouse, mousemat and other equipment for Christmas I must say they are awesome! Strangely enough one of the best parts was opening the boxes, they put so much effort in to making them stand out from the other stuff on the market, wish them the best of luck with the new VC funding.

Posted:2 years ago

#3

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