SINGAPORE, Sept. 05, 2025 — GCL (NASDAQ: GCL), a prominent provider of games and entertainment, announced today the signing of a non-binding term sheet with Heling Tongxing (Xi’an) Private Fund Management Co., Ltd. (“Harmony Capital”). This agreement is for the joint establishment of the GCL Game and Cultural Industry Fund.
The term sheet signifies the parties’ mutual intent to create the fund and outlines key commercial terms that require confirmation and formalization in a definitive limited partnership agreement. The proposed fund, with a total capital ranging from RMB100 million to RMB150 million, will strategically invest in China’s rapidly growing game development and publishing sectors.
“Our strategy is to drive growth by making direct equity investments in projects that promote creative and cultural content,” said Sebastian Toke, Group CEO of GCL. “It is intended that over 70% of the capital of this proposed fund will be dedicated to game development and publishing, reflecting our deep commitment to the core of interactive entertainment. We also plan to allocate resources to film and television adaptations of game IPs, broader cultural and creative ventures, and select pre-IPO opportunities. Once launched, this fund will represent a strategic step forward in nurturing long-term value across the games and entertainment sectors in China.”
The GCL Game and Cultural Industry Fund is projected to operate for a seven-year duration. This period includes a four-year investment phase followed by a three-year exit phase, with potential extensions contingent upon unanimous approval from all partners.
About GCL Global Holdings
GCL Global Holdings Ltd. connects individuals through immersive games and entertainment, empowering creators to deliver engaging content and enjoyable gameplay experiences to gaming communities worldwide, with a strategic focus on the expanding Asian gaming market.
Leveraging a deep understanding of gaming trends and market dynamics, GCL Group utilizes its diverse portfolio of digital and physical content to bridge cultures and audiences by introducing Asian-developed intellectual property to a global audience across consoles, PCs, and streaming platforms.
Learn more at
About Harmony Capital
Harmony Capital operates as a private equity fund manager, dedicated to fostering long-term value through strategic investments and extensive industry expertise. With offices in Beijing, Xi’an, and the British Virgin Islands, the firm manages assets exceeding 8 billion CNY across high-growth sectors such as advanced manufacturing, life sciences, and new energy.
Established in 2019, Harmony Capital collaborates with global institutions, offering services that span wealth management, enterprise financing, IPO consulting, and industrial development—enabling businesses to thrive in a dynamic global environment.
Forward-Looking Statements
This press release includes “forward-looking statements” made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995, which may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” or similar expressions that predict or indicate future events or trends, or that are not statements of historical matters. These forward-looking statements may also include, but are not limited to, statements concerning projections, estimates, and forecasts of revenue and other financial and performance metrics, market opportunity projections and expectations, GCL’s estimated implied enterprise value, GCL’s capacity to scale and grow its business, the anticipated benefits from the acquisition of Ban Leong Technologies Limited, GCL’s advantages and expected growth, and GCL’s ability to source and retain creative talent and publish games. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of GCL’s management, and are not predictions of actual performance.
Such statements involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. Although GCL believes it possesses a reasonable basis for each forward-looking statement contained in this press release, GCL cautions that these statements are founded on a combination of currently known facts and projections of the future, which are inherently uncertain. In addition, risks and uncertainties are described in GCL’s annual report on Form 20-F, filed with the SEC on July 31, 2025, and in other documents filed by GCL periodically with the SEC. These filings may identify and address other significant risks and uncertainties that could cause actual events and results to vary materially from those contained in the forward-looking statements. GCL cannot assure you that the forward-looking statements in this press release will prove accurate. There may be additional risks that GCL currently knows or believes to be immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties inherent in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements within this press release represent the views of GCL as of its publication date. Subsequent events and developments may lead to changes in those views. However, while GCL may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of GCL as of any date subsequent to the date of this press release. Except as may be required by law, GCL does not undertake any duty to update these forward-looking statements.
GCL Investor Relations:
Crocker Coulson
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