Singapore – September 16, 2021 – Cooley advised Mobile Premier League, Asia's largest esports and mobile gaming platform, on its Series F financing round at a $2.3 billion valuation. Ferish Patel, the partner in charge of Cooley's Singapore office, led the team advising MPL on the funding.
Legatum Capital led the round, which also included participation from Accrete Capital and Gaingels and existing investors Moore Strategic Ventures and RTP Global. MPL will use the new capital to keep adding games and expand to six more geographies within three years. It will also focus on attracting viewers, with the goal of lowering the cost of acquiring new gamers.
Founded in 2018 and headquartered in Bangalore, MPL hit 600,000 daily active users within three months. Currently, the company has around 80 million users, with five million located in Indonesia. MPL is targeting 300,000 users and more than $100 million in gross merchandise value by the end of 2021 in the US, where it launched in July.
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