Gobi backs Singaporean cloud service provider

Corous360 is a unit of holding company DeClout, which comprises a group of IT and cloud service providers in Southeast Asia.

Kay-Mok Ku, general partner of Gobi Partners Singapore, will be joining Corous360's board.

"The online game market in Southeast Asia is underpenetrated compared to China. Although the total population of Southeast Asia is almost half of China, its game market is less than one-tenth of China," commented Kay-Mok. "We believe that there will be room for a unified, cloud-based game publishing platform to allow publishers and developers to deliver their games directly to Southeast Asia, and we believe Corous360 is well-positioned to take advantage of this emerging trend."

Winston Koh, CEO of Corous360, added that this round of financing will enable the company to accelerate its regional expansion plans as well as enhance its service offerings to publishers, developers and gamers.

Earlier this year, Gobi realized a lucrative early exit from another business in the Southeast Asian online games space, CIB. The venture firm sold a 61.7% stake held alongside a consortium of angel investors for S$11 million ($8.7 million) in March. It reaped an IRR of 60% on its exit from the Malaysia-based massively multiplayer online role playing game (MMORPG) specialist.

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• Topics
• Southeast Asia
• Technology
• Early-stage
• Technology
• Venture
• Singapore
• Gobi Partners