TryHard Holdings (Nasdaq: THH) entered a binding collaboration agreement with Carnegie Hill Capital Partners to form a Hong Kong–based entertainment investment fund targeting USD 10–20 million. The agreement sets governance, investment oversight, distribution, exit mechanics and liability allocation, while capital contributions and economic terms will be set in definitive fund documents.
Fund formation remains subject to conditions precedent, including Hong Kong SFC licensing, final documentation and compliance; the parties expect establishment by June 2026 if conditions are met.
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- Target fund size of USD 10–20 million
- Partnership with Carnegie Hill Capital Partners expands global entertainment reach
- Detailed governance framework for fund oversight and exit mechanics
- Fund formation subject to SFC licensing and other regulatory approvals
- Capital contributions and economic terms are not yet finalized
- Establishment target (June 2026) contingent on conditions precedent
Target fund size
USD 10–20 million
Planned Hong Kong–based global entertainment investment fund
Expected fund launch
June 2026
Target timing for establishment of the Fund, subject to conditions
$23.10
Last Close
Volume
Volume 183,083 is 6% above 20-day average 172,154.
normal
Technical
Trading 115.1% above 200-day MA at 10.74, despite a -21.62% daily decline.
THH fell 21.62% while peers were mixed: SPIR +2.63%, QUAD +1.64%, KODK –3.11%, ANPA +16.27%, RHLD +1.48%. Moves do not indicate a synchronized sector reaction.
Event
Sentiment
Move
Catalyst
Celebrated Nasdaq listing with closing bell ceremony and growth plans.
Deepened partnership and rebranding of MUSIC CIRCUS with new investors.
Closed IPO with $4.00 offer price and $7M gross proceeds.
Recent positive corporate milestones have often been followed by flat to negative next‑day price reactions.
Over the last few months, THH has reported several corporate milestones. Its IPO closing on Aug 29, 2025 raised $7 million in gross proceeds but was followed by a -9.8% move. A strategic partnership restructuring with SBI Holdings and NEXYZ on Sep 10, 2025 saw a flat reaction. The Nasdaq closing bell ceremony on Sep 26, 2025 coincided with a -9.11% decline. Against this backdrop, today’s collaboration to launch an entertainment-focused fund continues the theme of expansionary, partnership-driven news alongside volatile trading.
This announcement outlines a binding collaboration to launch a Hong Kong–based entertainment investment fund targeting USD 10–20 million, focused on global IPs, festivals, venues, and media rights. The fund remains contingent on conditions such as regulatory approval and final documentation. It follows prior milestones including the IPO and strategic partnerships, reinforcing THH’s expansion strategy. Investors may watch progress toward a targeted June 2026 launch, the final economic terms, and how governance and risk allocation are structured within the fund.
AI-generated analysis. Not financial advice.
01/13/2026 – 04:30 AM
OSAKA, Japan, Jan. 13, 2026 (GLOBE NEWSWIRE) — TryHard Holdings Limited (“TryHard” or the “Company”)(Nasdaq: THH), a lifestyle entertainment company in Japan with principal businesses comprised of (i) event curation; (ii) consultancy and management services; (iii) sub-leasing of entertainment venues; and (iv) ownership and operation of restaurants, today announced that it has entered into a binding collaboration agreement with Carnegie Hill Capital Partners Limited (“Carnegie Hill Capital Partners”).
Pursuant to the agreement, the parties have committed to collaborate in good faith to establish a Hong Kong–based investment fund (the “Fund”) focused on opportunities within the global entertainment industry, including global IPs management, night club management, international music festivals, concerts, events film production, musicals, plays, theatre, digital media, and music rights.
The Fund is expected to have a target size of USD10-20 million, with capital contributions, management arrangements, and economic terms to be finalized and documented in definitive fund documentation, including a limited partnership agreement or equivalent constitutional documents and an investment management agreement.
The collaboration agreement provides a detailed framework governing fund governance, investment oversight, distribution mechanics, exit arrangements, confidentiality, and liability allocation. While the agreement is legally binding, the establishment of the Fund and any capital contributions remain subject to customary conditions precedent, including regulatory approvals, completion of licensing requirements with the Hong Kong Securities and Futures Commission, finalization of fund documentation, and satisfaction of applicable compliance procedures.
Subject to the fulfillment or waiver of these conditions, the parties currently expect the Fund to be established by June 2026, or such other date as may be mutually agreed in writing.
The collaboration marks an important milestone for TryHard in expanding its investment footprint across the global entertainment ecosystem. By partnering with Carnegie Hill Capital Partners, TryHard aims to combine creative industry insight with disciplined investment governance.
A representative of Carnegie Hill Capital Partners added, “We are pleased to formalize our collaboration with TryHard Holdings. The agreement reflects a shared commitment to building a focused entertainment investment platform.”
Further announcements will be made, as appropriate, upon the satisfaction of conditions precedent and the execution of definitive fund documentation.
About TryHard Holdings Limited
As a lifestyle entertainment company in Japan, TryHard Holdings Limited aims to be on the cutting edge of the entertainment industry by introducing state-of-art technology, immersive storytelling, and bespoke experiences that are multi-sensory. The Company’s mission is to create unique entertainment experiences that captivate audiences, foster memorable connections, and leave a lasting impact. Principal businesses comprise of (i) event curation; (ii) consultancy and management services; (iii) sub-leasing of entertainment venues; and (iv) ownership and operation of restaurants.
By merging creativity, technology and hospitality expertise, TryHard strives to redefine the entertainment landscape in Japan and beyond. Commitment to innovation, quality, and customer satisfaction drives TryHard to continuously push boundaries and exceed expectations.
For more information, please visit the Company’s website: https://www.tryhardthh.com/
About Carnegie Hill Capital Partners Limited
Carnegie Hill Capital Partners Limited operates as an investment management company. The Company focuses on dealing and advising on securities, as well as provides asset management services. Carnegie Hill Capital Partners serves clients in Hong Kong.
IR Contact:
HBK Strategy Limited
+852 2156 0223
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, business outlook in this press release, as well as TryHard’s strategic and operational plans and expectations regarding the establishment of the Fund, contain forward-looking statements. TryHard may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about TryHard’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: TryHard’s goals and strategies; TryHard’s future business development, financial conditions, and results of operations; the expected outlook of the lifestyle entertainment business in Japan; TryHard’s expectations regarding demand for and market acceptance of its products and services; TryHard’s expectations regarding its relationships with its customers and other stakeholders; competition in TryHard’s industry; TryHard’s proposed use of proceeds; and relevant government policies and regulations relating to TryHard’s industry, and general economic and business conditions in Japan and assumptions underlying or related to any of the foregoing. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.
Investors are advised to refer to the Company’s filings made with the U.S. Securities and Exchange Commission when making investment decisions, which are available for review at www.sec.gov.
This release does not constitute an offer to sell or solicit an offer to buy any securities, nor does it represent a public offering under Financial Instruments and Exchange Act of Japan.
FAQ
TryHard announced a binding collaboration with Carnegie Hill Capital Partners to establish a Hong Kong–based entertainment fund targeting USD 10–20 million.
The parties currently expect the Fund to be established by June 2026, subject to conditions precedent.
Formation is subject to customary conditions including licensing and approvals from the Hong Kong Securities and Futures Commission and completion of compliance procedures.
The Fund will focus on global entertainment opportunities: IP management, nightclubs, festivals, concerts, film, theatre, digital media, and music rights.
No; capital contributions, management arrangements, and economic terms will be finalized in definitive fund documentation.
The collaboration is presented as a milestone to expand TryHard’s investment footprint across the global entertainment ecosystem.