M17 Entertainment closes $40m Series A led by Japan’s IVP

The urban landscape of Taipei, with the Taipei 101 skyscraper in the background.

By Shiwen Yap

August 3, 2017

Taiwanese live streaming company M17 Entertainment has raised a $40 million Series A funding round led by Japan’s Infinity Venture Partners (IVP).

Other investors include Vertex Asia Fund, Yahoo Japan, Majuven, Golden Summit Capital and Korean venture firm, KTB Ventures.

Investment proceeds will be channelled into producing more original entertainment content through investing in content creators, diversifying into more content genres, and further expansion into more Asian markets.

M17 Entertainment co-founder and CEO Joseph Phua expects the latest funding round to accelerate this process.

He said, “With the past half year’s careful planning and execution, we are very satisfied with our current development. To achieve the Group’s expansion plans, working with international investors is very important to us.”

M17 Entertainment was formed in April 2017 with the merger of Singapore-based Paktor Group and Taiwan-based 17 Media, a regional live-streaming company.

M17 Entertainment plans to allocate part of the funds into market expansion, focusing on markets such as Japan, Indonesia and Hong Kong. The existing team will receive professional training while qualified content creators – such as live streamers, music producers, and celebrities – will also be scouted. Another focus lies in producing more original content such as music, commentary, variety shows as well as reality TV programmes.

Currently, M17 Entertainment has offices in Singapore, Malaysia, South Korea, Taiwan, Hong Kong and Indonesia with a total staff count of 300. The group has plans to continue expansion in Asia excluding China.

The Series A round will also see 17 Media and KKBOX enter into a content partnership. KKBOX founder Chris Lin said, “Live streaming is currently the main driver in content distribution and with 17 Media being the market leader, we want to start cultivating more talents in original content production.”

“Supporting original Taiwanese content is a common objective and with that, KKFARM and KKTV from KKBOX Group will work with M17 Entertainment to invest in original content creators. The content will be broadcast on KKBOX’s media channels. We will also assist in music production, lending more exposure to music talents as well as giving them a chance to fulfil their aspirations as a singer,” he added.

Also Read:

Singapore: Paktor, 17 Media merge; Gentle Care picks Healthway Medical notes

Taiwan’s 17 Media closes $23m funding from LeSports Innovation, partners

Taiwan’s state-run fund NDF puts $20m to Infinity Venture Partners’ third fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW