Vistas Media raises $10 million from Kitara Capital

Singapore-based Vistas Media Capital, which has ambitions to boost $100 million in capital for its movie and digital content material initiatives in India, has closed a $10 million funding take care of Kitara Capital, a Center East-based world funding group.

“We’ve got raised $10 million from Kitaara Capital. That is our first funding for the corporate, and we intend to boost $100 million for investing in movie and digital content material over the subsequent three years,” Abhayanand Singh, CEO of Vistas Media, instructed ET.

Singh added that the corporate will utilise the funds to develop, produce, finance, and distribute Indian content material throughout theatrical and digital platforms globally.

“We presently have theatrical and non-theatrical movies, in addition to digital content material, below growth in Hindi and Tamil. We are going to make movies with budgets starting from $1 million to $5 million,” he mentioned.

The Vistas Media chief govt additionally mentioned that some movies will likely be monetised first by means of theatrical, whereas others would possibly launch instantly on streaming platforms.

Singh mentioned that the corporate will even produce content material for Punjabi and Malayalam audiences as soon as it manages to boost extra funds.Sachin Kamath, co-founder and CEO of Kitara Capital, believes India’s media & leisure (M&E) business is ripe for progress within the coming years attributable to its younger inhabitants.“We consider that with a really younger demographic, the media and leisure sector is poised for exponential progress within the nation, and we wish to herald institutional capital to deal with the gaps out there,” he added.

Vistas Media Capital’s portfolio contains movie and digital content material manufacturing firm Golden Ratio Movies, streaming platform Planet Marathi, MENA-based music streaming platform Anghami, animation studio Paperboat, NFT platform Fantico, and digital advertising agency Diquery Digital.

Golden Ratio Movies’ Hindi content material library consists of Bhonsle, Albert Pinto ko Gussa Kyon Aata Hai, Nakkash, JL-50, Ghamasaan, Child Crasto, Lord Curzon ki Haveli, and Tremendous Girl, amongst others.

In regional language, it has produced critically acclaimed Marathi movies like AB Aani CD, Chadramukhi, and Goshta Eka Paithanichi in Marathi, in addition to two movies in Tamil, together with Author and J-Child, in co-production with famend Tamil director and producer Pa. Ranjith.

The corporate has additionally co-produced The Extraordinary Journey of the Fakir, which is Tamil celebrity Dhanush’s first worldwide movie.

Its Hollywood slate consists of Son, a street horror thriller starring Halloween fame Andi Matichak, and The Featherweight, in co-production with Hollywood’s main manufacturing home, Appian Means.

Apart from producing movie and digital content material, Singh mentioned the corporate additionally plans to enterprise into the worldwide distribution of Indian movies.