The collaborative initiative is geared towards the global development, production, financing, and distribution of Indian content.
Kitara Capital, a prominent global investment group headquartered in the Middle East, has joined forces with Vistas Media’s content business in Abu Dhabi. Under this collaboration, Kitara Capital is set to invest up to $10m in a phased approach, serving as the financing partner, while Vistas Media will oversee the execution aspects, encompassing the sourcing, development, production, and distribution of films and digital content across diverse languages, genres, and formats.
The joint venture’s primary objective is to concentrate on the development, production, financing, and global distribution of Indian content, spanning both theatrical and digital platforms.
Sachin Kamath, co-founder and CEO of Kitara Capital, expressed optimism about India’s future prospects over the next decade. With diverse investments across various sectors, Kitara Capital envisions substantial potential for exponential growth in the country’s media and entertainment industry, driven by a youthful demographic. Kamath emphasised the intention to introduce institutional capital to address existing market gaps.
Abhayanand Singh, CEO of Vistas Media, added: “Kitara Capital’s investment into Vistas Media is a strong validation of our professional team and strategic approach to unlocking the potential of India’s media and entertainment sector. Their confidence in this alternative asset class could potentially open doors for more institutional investors to consider opportunities within Indian and Middle Eastern companies in this industry.”
Vistas Media, a key player in India’s media and entertainment sector, boasts a robust presence in content production, distribution, animation/VFX, and the streaming business. Notably, the company gained attention in August 2020 by launching the first SPAC from Asia, Vistas Media Acquisition Company Inc., which successfully took MENA music streaming platform Anghami public on Nasdaq in February 2022.
The infusion of $10m by Kitara Capital is anticipated to accelerate Vistas Media’s expansion initiatives, providing the company with the means to craft and produce top-tier content that connects with audiences worldwide.
The financial backing from Kitara Capital will enable Vistas Media to venture into inventive avenues in content creation and distribution, catering to the evolving preferences of today’s diverse and discerning audience.