Media & entertainment space gets new PE fund; IMEF raises Rs 500 crore

Sources in the know said that the fund is expected to close its first deal in the next 90 days

In what is amongst the first focused fund in the space, India Media Entertainment Fund (IMEF) is raising Rs 500 crore, which will provide both equity as well as instruments like non-convertible debentures (NCD)  to companies in the  content, distribution platform and services areas. 
 
The private equity fund has appointed a high-profile advisory body which includes ad guru Prahlad Kakkar, managing director of Red Chillies Entertainment and cricket team KKR Sports, actress and entrepreneur Raadhika Sarathkumar, who has starred in Malayalam, Hindi and Kannada films and runs Radaan Mediaworks. It also includes Ramnath Pradeep, former chairman and managing director