(Yicai Global) July 19 -- Hive Film, Television and Culture Co. (HFTC), a provider of short videos, has secured CNY20 million in its first-round financing led by Elementary Particle Venture Capital (EPVC) and joined by Xinbang, valuing the company at USD15 million (CNY100 million). EPVC is an investor in Ergeng Video.

Established in 2015, HFTC has developed several short video brands focusing on the life sector and boasts great resource advantages, online media outlet 36kr.com reported yesterday.

Affiliated to Shenzhen Hive Media Co., HFTC is an independent subsidiary of Hive Culture, a multi-channel network (MCN) player, and has the film and television adaptation rights to all the accounts owned by the latter, the report said.

Providers of short videos need to consider exploring more paths to commercialize such videos when the number of viewers has reached a set number, said Wang Zijun, HFTC's chief executive. He may consider promoting partnerships between video brands and bars and online retailers or opening brick-and-mortar retail stores, Wang added.

HFTC's ability to discover the interest of contemporary young people is one of the primary reasons why his company has invested in it, said Zhang Yuzhou, partner of EPVC.

Except for its two partners, all the members of the HFTC team were born in the 1990s. CEO Wang Zijun was a short film director at Beijing Enlight Pictures Co., and Zhao Cong, its partner, was head of production at the Beijing branch of Guangdong Advertising Group Co. [SHE:002400]. P3!P3!, a micro film co-produced by the two, has had hits of over 10 million.