Tokyo-headquartered PIA Corporation has acquired a minority stake in Daimani Group, a global marketplace for VIP hospitality packages.
Marketscreener reported that PIA invested around CHF 1.6m (£1.4m/€1.6m/$1.7m) and will hold a 5% stake in the Swiss start-up. PIA acquired the minority stake through a growth financing round.
The two companies are active in the entertainment ticketing market, but Daimani specifically has a focus on the VIP and hospitality sector. PIA Corporation offers entertainment services and its business includes the sale of music items, as well as sports, movies and event tickets; publishing; the operation of concerts and events and more.
In addition to the capital investment, PIA will aid with the further expansion of Daimani and will together establish a joint strategic venture to promote the VIP and hospitality market in Asia, with a particular focus on Japan.
In a post on LinkedIn, Daimani said: “Exciting news for 2023!”
Daimani already works with global events including the upcoming Rugby World Cup in France, where VIP tickets are sold through its platform. More than 700 events are currently offered through Daimani.
Proventis Partners acted as the M&A advisor to the shareholders of Daimani.