Beta Media has said that the company has successfully secured USD 8 Million funding with the help of the leading Japanese Investment Fund, Daiwa Di Partners. The recent funding helps to reach the enterprise valuation of the company up to VND 1,000 Billion.
The company has previously received funding from the Vietnam Investment Group in 2015 and USD 2.5 Million from Blue HK Financial Group (Hong Kong).
Beta Media operates the low-cost movie theater chain named Beta Cinemas and it includes 60 cinema halls and 12 Cineplexes nationwide. The company has got top of the line cinema halls, but with affordable ticket prices.
Senior Managing Director, Mr. Kenichi Shimomoto said, “Undeterred, Minh Beta and the team have patiently demonstrated to us their impressive business results in the past, a potential future of the film industry in Vietnam, as well as Beta Media’s determination and perseverance in promoting this important industry in the long term.”
“Currently, all cinemas of Beta Media have resumed operation, and the investment deal has been completed, so we do believe that our journey to the bright future has already restarted. We are very excited and look forward to enjoying this great journey with the Beta team and our fellow investors, VIG and Blue HK,” Mr. Kenichi Shimomoto concluded.
Chief Executive Officer Bui Quang Minh said, “This investment will equip Beta Media with more resources to grow further in the near future. Beta Media is expected to reach 50 locations in the next few years.”
“With the mission of bringing an affordable cinema experience to all Vietnamese people in all regions of the country, Beta Media will continue to promote the franchise business model in the coming years,” Mr. Bui Quang Minh further added in the statement.