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Commentary: The incredible rise of Forrest Li, modest founder of Singapore’s most valuable listed company Toggle share menu
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Commentary: The incredible rise of Forrest Li, modest founder of Singapore’s most valuable listed company For a very long time, Forrest Li has been somewhat of a mysterious figure unless you’re a gaming enthusiast or in the investing and start-up community. But that is now changing, says David Kuo.
Forrest Li, Chairman of Lion City Sailors FC, Lim Kia Tong, President of the FAS and Winston Wong, Chairman of Home United, poses with Lion City Sailors FC jerseys (Photo: SEA)
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February 23, 2021
Huy Truong
The term “unicorn”, used to describe start-ups worth more than US$1 billion (S$1.3 billion), had not even been coined in 2009, when Stanford MBA graduate Forrest Li began working on his new gaming company with nearly a dozen employees – all cramped in a tiny shophouse in Singapore’s central business district.
Garena, his fledgling gaming company, kept a low-key profile, though its almost immediate success meant investment rounds and expansion plans came thick and fast.
Soon Garena outgrew its small outfit on Maxwell Road, then a move to a two-storey penthouse office beckoned.
A decade on, Garena is now one limb of the gargantuan Sea Group.