SGAG owner bags US$10m from Quest, Temasek unit to push into e-sports territory

The Business Times

BEHIND the wacky memes and skits of SGAG, serious money is being made. Its parent company, Hepmil Media Group, has been in the black since inception. The startup recorded S$5.2 million in revenue and over S$812,800 in profit in 2020, according to regulatory filings.

But in the past 6 years, it had raised only US$900,000 from angel investors – in 2017. One could say that’s “nubbad”, going by the lingo of the startup with the cheeky name (try reading “Hepmil” backwards).

The company is now at an “exciting” inflection point as it evolves beyond content publishing, co-founder and chief executive Karl Mak told The Business Times.

Hepmil is tapping institutional funds for the first time, as it expands into working with digital content creators, especially in e-sports.

It has bagged US$10 million in Series A funding, led by early-stage investor Quest Ventures, Temasek unit Pavilion Capital and Bent Pixels, a US digital media company that collaborates with e-sports content creators and advertisers.

Jeffrey Seah, partner at Quest Ventures, is bullish on Hepmil’s expansion beyond content publishing. “We have been impressed by the Hepmil founders and leadership bench for a while, and we feel that it is well-positioned to achieve its vision to become a key player in South East Asia’s media scene,” he said.

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