Shekhar Kapur to raise $500mn in Singapore

Shekhar Kapur, the director of Oscar-nominated Elizabeth, is in talks to raise a $500 million fund in Singapore to invest in the entertainment industry, including movies and music across Asia, according to a report on the website of Bloomberg.

"Singapore's capital markets have the kind of maturity to sit for long-term investments,'' Kapur said.

Kapur is planning to hire professionals to manage the fund, while he focuses on wooing global entertainment partners from the West. He expects to unveil his plan in the next three to six months, the report added.