Box Sports operates in sports content, manages professional esports teams and handles broadcasting and content rights for tournaments.

The company previously said it held exclusive broadcasting rights in Vietnam for League of Legends Champions Korea (LCK), South Korea’s top-tier professional League of Legends competition. Box Vietnam began publicizing its ownership of the Vietnamese LCK broadcasting rights in June 2021.

In 2020, Box Sports was recognized as an official member of the Vietnam Recreational and Electronic Sport Association (VIRESA).

Hien had ambitions to develop Box Vietnam into a business extending well beyond the management of gaming teams.

He saw rising demand for digital entertainment as an opportunity for media businesses and a potential draw for investment into esports. Hien once described the market as a “big pie” that investors would find difficult to ignore.

Beyond professional teams, the company expanded into streamers, influencers, broadcasting rights and gaming-related entertainment technology projects.

In 2021, Hien said Box Vietnam was raising capital for several major projects and that the fundraising process was about 90% complete.

In an interview that year, he discussed plans to broaden Box Vietnam’s operations beyond team management into streamers, influencers, broadcasting rights and gaming-related entertainment technology.

At the time, Hien said growing demand for digital entertainment would create opportunities for media businesses and attract investment into esports.

His statement that fundraising for several projects was about 90% complete reflected information provided by Hien in the interview, rather than a confirmed fundraising result.

Regarding Box Vietnam’s business model, Hien said at the time that it could not yet be described as an “ecosystem.”

According to Hien, influencers and esports players followed different development paths, while collaboration among the different groups remained at an early stage.

Dan Tri newspaper, citing data from Vietnam’s National Business Registration Portal, reported that Box Vietnam JSC originated as Thanhhien Media Co., Ltd., established in February 2018 with charter capital of VND5 billion (about US$190,000).

Hien was one of three founding shareholders, contributing VND2 billion, equivalent to a 40% stake.

In December 2018, the company changed its name to Box Vietnam Investment JSC and shifted its primary registered business from wholesaling computers, peripheral equipment and software to market research and public opinion polling. Hien then held a 90% stake.

After raising its charter capital to VND7 billion in January 2021, the company increased it again to VND21 billion about six months later and changed its name to Box Vietnam JSC.

At the same time, Hien became CEO and the company’s legal representative.

Dan Tri reported that Singapore-based ACEBOXPTE.LTD became a shareholder in May 2022, initially holding a 49% stake, with Hien acting as its authorized representative.

By September 2024, Box Vietnam’s charter capital had reached more than VND85.91 billion, more than 17 times its initial level. The Singapore shareholder held 49.2%, equivalent to more than VND42.26 billion, according to the newspaper.

Duy Anh