Religare Enterprises Ltd and Vistaar Entertainment Ventures have jointly launched Vistaar Religare Film Fund, touted as India’s first film fund. The AMC Vistaar Religare Capital Advisors Ltd has filed for SEBI’s approval as a venture capital fund. The Fund, which would be close-ended in nature with a lock-in period of five years, is expected to have a corpus of approximately Rs 200 crore in the first round.
The Vistaar Religare Film Fund would invest in film projects in India as well as overseas markets. It would focus on providing new talent a platform for equality of market exploitation. With a strong investment committee, the key to success is the choice of strong scripts that shall be the touchstone of the Fund’s investment strategy.
Commenting on the launch, Sunil Godhwani, CEO & MD, Religare Enterprises Ltd, said, “We have always believed in innovations, and for us spotting new opportunities for creating and maximising wealth for our investors is a constant endeavour. This Fund will be yet another step from our umbrella in that direction and is a strong combination of sharp, seasoned financial minds along with experienced and innovative minds from the business of entertainment and films.”
Sheetal Talwar, Chairman & Managing Director, Vistaar Religare Capital Advisors Ltd, commented, “India has always had an immense depth of undiscovered talent. The Vistaar Religare Film Fund would aim to capture this remarkable but untapped potential within the country and produce entertaining, challenging, culturally relevant cinema with a soul. We will identify and promote new talent, be it directors, writers, technicians or actors, and with a partner like Religare, we feel we have a winning formula.”
Vistaar Entertainment Ventures is the holding company of The Friday Fund and WSG Pictures. Its first ever film venture was titled ‘Dharm’ and was released in 2007. The company is co-promoted by a set of creative thinkers, financial professionals and entrepreneurs like K L Muralidhara, former Country Head of American Express in India.
Religare provides integrated financial services in equities, commodities, insurance broking, wealth management, portfolio management services, personal financial services, investment banking and institutional broking services to clients across the country. Religare Enterprises Ltd had recently concluded a public offer.