Religare, Vistaar plan Rs 200cr film fund

Religare Enterprises, along with Vistaar Entertainment Ventures, today announced the launch of Vistaar Religare Film Fund (VRFF).

According to a release issued by Religare to the BSE today, VRFF will be India's first regulated film fund, and the AMC, Vistaar Religare Capital Advisors, has filed papers with Sebi for approval as a venture capital fund (VCF). The fund will, in the first round, have a corpus of approximately Rs 200 crore and would be close-ended in nature with a lock-in of five years.

Vistaar Religare Film Fund will focus on providing new talent a platform for equality of market exploitation. The fund will focus on "The Business of Show Business..." and provide ample opportunity for new directors, talent and writers. With a strong investment committee, the key to success is the choice of strong scripts that shall be the touchstone of the funds investment strategy. The attempt will be to create a scenario that offers viewers more choice of selection and looks beyond the traditional 'star' system, the release added.

Sunil Godhwani, CEO and MD, Religare Enterprises, said: "We have always believed in innovations, and, for us, spotting new opportunities for creating and maximising wealth for our investors is a constant. This fund will be yet another step from our umbrella in that direction, and it's a strong combination of sharp, seasoned financial minds along with experienced and innovative minds from the business of entertainment and films."