North Base Media Leads Vietnam Digital Network Vietcetera’s $2.7m Pre-Series A Round
Source: Tam Pham for Vietcetera
Vietcetera, a Vietnamese digital-media network, has raised US$2.7 million over two successive rounds closed in 2021 led by North Base Media, the global, media-focused venture-capital firm.
Also investing was Indonesian firm Go-Ventures; East Ventures, one of Indonesia’s leading venture firms; Summit Media from the Philippines; and Tokyo-based duo Genesia Ventures and Z Venture Capital Corporation (“ZVC”). ZVC is the corporate venture capital arm of Japan’s Z Holdings Corporation, controlled by SoftBank Group and Naver Corporation. Additionally, the round saw participation from Singaporean and Vietnamese family offices.
Founded in Ho Chi Minh City, Vietnam, in 2016 by Hao Tran and Guy Truong, the Vietnamese media company has experienced rapid audience and revenue growth as Vietnamese media consumers look for high-quality multimedia content.
“North Base Media seeks out high-quality, well-run media companies serving new audiences in markets where demand for content is rising as more and more people get smartphones and access to mobile data,” NBM co-founder and managing partner Saša Vučinič said. “Vietcetera understands its market and has enormous growth potential.”
Vietcetera now reaches an audience of more than twenty million users per month, mostly from Vietnam. Its advertising base includes multinational firms such as AIA Life Insurance, Google, Facebook, Nestlé, and Mastercard and Vietnamese conglomerates and industry leaders such as Vingroup and Tiki.
“We are delighted to welcome such a strong group of investors as backers of Vietcetera,” CEO Hao Tran said. “They are a perfect complement to the global standard we aim to set in our products.”
Melisa Irene, Partner at Jakarta-based East Ventures, went on to share, “The Vietcetera team has demonstrated strong execution capability by obtaining a strong readership base from Vietnam and South East Asia’s emerging population. We believe Vietcetera will continue to innovate and adapt to deliver better quality content for its readers.”
Vietcetera plans to use its new funding to strengthen its content, adding new shows and podcasts targeting the country’s emerging middle class with topics that are underserved. Mobile application development, business intelligence investments, franchise and content licensing, and acquisition deals also are a high priority for 2022, Tran said.
In early 2021, the Vietnamese media company made global headlines when it released a viral Lunar New Year rap music video with former US Ambassador to Vietnam Daniel Krittenbrink.
Contact: Hao Tran,
- About North Base Media
North Base Media is an investment firm focused on news, business information, sports and gaming, entertainment media, and other digital-driven opportunities in growth markets.
NBM’s co-founders are Marcus Brauchli, the former top editor at The Washington Post and The Wall Street Journal; Sasa Vucinic, co-founder and longtime CEO of the Media Development Investment Fund (MDIF). The firm’s general counsel is Stuart Karle, former COO of Reuters News and General Counsel of the Journal. Strategic investors include Bloomberg Beta, Graham Holdings, Singapore Press Holdings, Neue Zürcher Zeitung, the family offices of Alibaba’s leaders and a former Bell Labs CEO, as well as individuals who led Univision, Time Inc. and investment funds in Asia and China.
- About Go-Ventures
Go-Ventures is the investment arm of Go-Jek. Go-Jek is the leading on-demand app in Indonesia. Its app provides a variety of services from payments, food delivery, transportation, and logistics.
- About Summit Media
Summit Media is the leading magazine publisher and one of the biggest digital publishers in the Philippines.
- About East Ventures
East Ventures is an early stage venture capital firm focused on Southeast Asia, Indonesia & Japan. Success cases include Tokopedia, Traveloka, and Mercari.
- About Genesia Ventures
Founded in 2016, Genesia Ventures invests in and supports seed and early-stage startups in Japan and Southeast Asia. It has offices in Tokyo, Jakarta, and Ho Chi Minh City, and works with startups, corporations, investors, governments, and non-profit organizations in the region.
- About Z Venture Capital Corporation
Z Venture Capital Corporation supports startups with global potential and is the corporate venture capital arm of Z Holdings Corporation, one of Japan’s largest internet service companies. Z Venture Capital Corporation is the succeeding company of YJ Capital Inc., which was established in August 2012, following its merger with LINE Ventures Corporation in April 2021. (You can refer to our April 1, 2021 press release for additional information).