Private Equity

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India Media Entertainment Fund to raise Rs.500-Cr

Business Standard  

India Media Entertainment Fund (IMEF) is raising INR 500 crore, to provide both equity as well as debt to companies in the content, distribution platform and services areas. The private equity fund has appointed Prahlad Kakkar, actress and entrepreneur Raadhika Sarathkumar, who runs Radaan Mediaworks, as advisors among others. It will be overseen and run by founder and partner Parth Gandhi. The fund is expected to close its first deal in the next 90 days. It is looking at early-stage companies and plans to invest up to INR 25 crore in a company in the first round. In the content space, IMEF plans to offer both NCDs and equity to companies in TV and film content, digital news and entertainment, live events and music. In the distribution space, it is looking at OTT, print, broadcasting, cable, DTH and radio, amongst others. In the services space, the fund will focus on companies in post-production, VFX, digital as well as sports and talent management. The fund is looking at a return ranging from 12-18 % in filmed content to 20-30 % in the media and entertainment space.