JG Summit Holdings and Uni-President Enterprises were among the investors as Tencent-backed internet company Garena rebranded to Sea and raised new funding.

Indonesia-based internet company Garena rebranded to Sea Ltd yesterday, disclosing $550m in new funding from investors including diversified conglomerate JG Summit Holdings and food supplier Uni-President Enterprises.

The round also featured financial services group Cathay Financial, venture builder GDP Venture, asset manager Farallon Capital Management and hedge fund Hillhouse Capital. Uni-President participated through its President International Development Corporation subsidiary.

Founded in 2009, Sea operates a diversified internet business that includes an e-commerce platform called Shopee, online video streaming, chat, mobile…