NV Capital, India’s first Media & Entertainment Credit Fund, today announced plans to organise virtual roadshows to tap investors across the UAE for raising AED 246 million (US$ 67 Million) corpus.
Given the active involvement of Indian diaspora investing across various equity and debt instruments in India, as well as exploring new alternative asset classes, NV Capital is looking forward to raise funds from HNIs, NRIs, Family offices and Financial Institutions based out of UAE to participate in the growth story of this sunrise sector.
Founded by industry professionals and ex-bankers Nitin Menon and Vivek Menon, NV Capital will be also India’s first Credit fund focused on the Media and Entertainment sector with the objective of investing in Content creators, OTT platforms, Gaming and Entertainment Start-ups. The fund recently received a nod from SEBI as Category II Alternative Investment Fund. With the rapid rise of Category II credit funds in India over the last few years, NV Capital is looking to establish a New Alternative Asset Class in the Media & Entertainment space.
Commenting on the plans, Vivek Menon, Co-Founder & Managing Partner, NV Capital, said, “It is a proud moment for us to launch India’s first credit fund in Media and Entertainment industry which is on the cusp of exponential growth. Given the rise of UAE as a preferred destination for global FPIs, it is eminent for the country to become the gateway of new age sectoral funding to countries like India. At the same time, owing to cultural similarities, a large expat population of Indian origin and sustained tie-ups with Indian media and entertainment industry, UAE remains a key market for garnering funds for pour pioneering offering.”
Speaking on the opportunity, Nitin Menon, Co-Founder & Managing Partner, NV Capital, said, “The last 10-15 years has witnessed meteoric growth in this Alternative Asset Class with the support of ancillary revenue monetization platforms like Broadcasting, Music amongst others, and now the recent OTT phenomenon. The investment in programming by media houses in OTT more than doubled from ~USD 260 Mn in 2017 to ~USD 700 Mn in 2020. Further, with the recent Amazon – MGM and the Warner – Discovery deal, the war for content manufacturing is getting bigger globally and India would be a recipient of these content spends as the next big market”
