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IDG, Accel invest $50m in US hardware firm

  • Susannah Birkwood
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Bangalore-based IDG Ventures and Silicon Valley’s Accel Partners have led a $50 million Series A round of funding for Razer, a US gaming hardware company.

The VC firms have acquired a minority stake in the California-based business, which previously received backing from angel investors. Their investment, channeled via the IDG-Accel China Capital Fund, will help develop Razer's technology and expand its design portfolio.

"IDG-Accel is a global fund and their relationships in the US and China will definitely be complementary for our worldwide businesses," said Min-Liang Tan, co-founder and CEO of Razer. "Imagine the kind of phenomenal products we'll be designing with the resources that they will bring to the table."

A major gaming hardware brand in the US and Europe, Razer recently ranked as one of the top technology brands in China due to its strategic partnerships with local gaming companies such as Tencent, Shanda, Changyou and Perfect World. It has offices in nine cities around the world.

Razer is the second US technology firm to receive Series A funding from IDG-Accel's China fund this week. On Monday San Francisco-based software application provider BlueSprig announced that it had received $10 million from the vehicle.

IDG-Accel China Capital Fund has been an active investor since the early 1990s. It counts Baidu, Sohu, Tencent, Soufun and Ctrip among its portfolio firms.

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