Boxing legend Manny Pacquiao has bought into a Singapore-based mobile gaming company.
Manny, who’s just won a Senate seat in the Philippine elections last month, snapped up a 5 percent stake in Gtoken, a platform that publishes crowdsourced mobile games, for an undisclosed amount. The parties formally inked the deal in the boxer’s hometown General Santos City in southern Philippines over the weekend.
We’ve reached out to Gtoken for the details of the stake sale and we’ll update this story when we hear back.
Now valued at US$60 million, Gtoken has over a million users to date across Southeast Asia, Taiwan, and China, according to a company statement.
Gtoken’s founding investors include Ivan Lee, a serial entrepreneur whose previous food and beverage company was acquired for over US$73 million. Ivan is also the founder of Raging Bull, a private investment fund focused on tech.
Manny is the world’s second highest-paid celebrity, falling behind his rival Floyd Mayweather in the Forbes’ 2015 list. The two athletes’ epic fight in Las Vegas last year helped boost their rankings. Manny also sourced a part his wealth from various endorsement deals with brands such as Nike, Foot Locker, Wonderful Pistachios, Nestle’s Butterfinger, and a handful in the Philippines.