US-based gaming equipment and services provider Razer has filed for an initial public offering in Hong Kong that a source told TechCrunch is likely to be more than $600m in size.
Razer, which counts mobile internet technology producer Hangzhou Liaison Interactive as an investor, was founded in Singapore in 2003 before establishing itself in the US in 2005.
The company initially focused on hardware gaming accessories such as a specialist mouse and keyboard but has since branched out into more heavy duty hardware products like laptops and tablets, as well as an eSports platform and a virtual currency called zGold.
Razer raised approximately $8.8m from investment vehicles linked to internal investors between 2005 and 2012 according to the IPO filing, before securing $17.1m in a 2013 series B round that included Sirius Financial Group.
Semiconductor technology producer Intel’s corporate venturing unit, Intel Capital, reportedly invested an undisclosed amount in the company in 2014 at a $1bn valuation, but the filing makes no mention of that deal.
The filing also does not mention the $50m investment by IDG-Accel China Capital Fund in 2011, which the company at the time described as its first ever VC round, and neither Intel Capital nor IDG-Accel are included in the filing’s list of shareholders.
Hangzhou Liaison Interactive Digital Grid acquired a 5% stake in February 2016 for $75m, before a vehicle called HF Technology Investment added $50m in September. Razer then raised $43m in a May 2017 series D round featuring Horizons Ventures, Redmount Ventures and Binary Capital.