Southeast Asia $32 Billion E-Commerce & Gaming Giant Sea Limited Closes Investment Unit Sea Capital, Setup in 2021 with $1 Billion after Buying Hong Kong Composite Capital Management to Invest in Early-Stage Technology Companies in Southeast Asia
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Southeast Asia $32 Billion E-Commerce & Gaming Giant Sea Limited Closes Investment Unit Sea Capital, Setup in 2021 with $1 Billion after Buying Hong Kong Composite Capital Management to Invest in Early-Stage Technology Companies in Southeast Asia
2nd June 2023 | Hong Kong
Southeast Asia e-commerce & gaming giant Sea Limited (1/6/23: Market Capitalization $32 billion) has closed its investment unit Sea Capital, which was setup in 2021 with $1 billion capital after buying Hong Kong-based Composite Capital Management to invest in early-stage technology companies in Southeast Asia.Composite Capital Management was founded by David Ma (former Hillhouse Capital partner), who was appointed as Sea Capital Chief Investment Officer.Sea Capital had made a few investments including into collapsed cryptocurrency exchange FTX founded by Sam Bankman-Fried.In 2022 September, Sea Limited billionaire founder Forrest Li & top management announced to forgo salaries, and implementing a company-wide business expense limits to economy class travel, travel & meal claims at $30 a day, and hotel at $150 a night. Sea Limited was one the Southeast Asia’s most valuable company with around $200 billion in market capitalisation in 2021, with share price falling more than 80% over the last 12 months to $28 billion market capitalisation (2022 Sept). More info below.
” Southeast Asia $32 Billion E-Commerce & Gaming Giant Sea Limited Closes Investment Unit Sea Capital, Setup in 2021 with $1 Billion after Buying Hong Kong Composite Capital Management to Invest in Early-Stage Technology Companies in Southeast Asia “
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Southeast Asia Gaming & E-Commerce Giant Sea Billionaire Founder Forrest Li & Top Management to Forgo Salaries, Business Expense Limits to Economy Class, Travel & Meal $30 a Day, Hotel $150 a Night
Sea Chairman & Group CEO Forrest Li
15th September 2022 – Southeast Asia gaming & E-commerce giantSea Limitedbillionaire founderForrest Li & top management have announced to forgo salaries, and implementing a company-wide business expense limits to economy class travel, travel & meal claims at $30 a day, and hotel at $150 a night. SeaLimited was one the Southeast Asia’s most valuable company with around $200 billion in market capitalisation in 2021, with share price falling more than 80% over the last 12 months to $28 billion market capitalisation. Sea Limited is a leading global consumer internet company founded in Singapore, with Garena, Shopee, and SeaMoney. Garena is a leading global online games developer and publisher. Shopee is the largest pan-regional e-commerce platform in Southeast Asia and Taiwan. SeaMoney is a leading digital payments and financial services provider in Southeast Asia.
Sea Limited & Forrest Li, Chairman & Group CEO
Sea Limited is a leading global consumer internet company founded in Singapore.Our mission is to better the lives of consumers and small businesses with technology. We operate three core businesses across digital entertainment, e-commerce, as well as digital payments and financial services, known as Garena, Shopee, and SeaMoney, respectively. Garena is a leading global online games developer and publisher. Shopee is the largest pan-regional e-commerce platform in Southeast Asia and Taiwan. SeaMoney is a leading digital payments and financial services provider in Southeast Asia.
Forrest Li, Chairman & Group CEO
Forrest Li is our founder and has served as the chairman of our company and our group chief executive officer since our inception in May 2009. He is a member of the board of directors of the Singapore Economic Development Board, and serves as an independent non-executive director of Shangri-La Asia Limited. He also serves on the board of trustees for the National University of Singapore, and on the advisory council of Stanford University’s Graduate School of Business. Forrest holds an M.B.A. degree from Stanford University’s Graduate School of Business and a bachelor’s degree in Engineering from Shanghai Jiaotong University.
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