Samreen Ahmad · · 2 min readTheVentures bets on Vietnam-based social gaming platform
Box Vietnam CEO Hien Bui / Image credit: Box Vietnam
Box Vietnam, a social gaming and live entertainment company, has received a round of undisclosed funding led by TheVentures through its Asia Advance Fund 1. Angel investors also participated in the round.
Box Vietnam will use the funds to strengthen its platforms’ tech capabilities and widen its network of creators.
Founded in 2018, Box Vietnam is an ecosystem made up of Box Studio, Box Sports, and GG Live.
Box Studio is a multichannel network of over 500 influencers, gaming streamers, and esports commentators, while GG Live is a livestreaming platform for gaming, tournaments, challenges, and talent shows.
Box Sports, on the other hand, is a sports content provider that also manages professional esports teams and secures content licensing agreements for esports tournaments.
Box Vietnam said that combined, its platforms currently host 461,000 active users per month.
With 18 million people actively engaged in esports in Vietnam, the country offers a large playing field for a platform like Box Vietnam.
“Similar to AfreecaTV in Korea, the younger generation in Vietnam also wants new media to meet changing needs in the multimedia area,” TheVentures said.
TheVentures was established in 2014 by Chang-seong Ho and Ji-won Moon. The pair leveraged their previous experience with Viki, a streaming service acquired by Rakuten in 2013 for US$200 million.
So far, TheVentures has invested in a total of 15 Vietnamese startups.
See also: Line- and Kakao-backed Web3 gaming firm makes $8m while staying profitable
Editing by Miguel Cordon and Dhania Putri Sarahtika
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