Enam Group has secured a significant minority stake in Ronnie Screwvala-backed multi-genre digital media brand Arre.
The founders of Arre along with Enam Group have also acquired the residual stake held in the company by Unilazer Ventures and Ronnie Screwvala.
Enam’s investments will be used in the organic build out of Arre’s content, the overall product offering and facilitate scaling into a significant player in the digital content business, Enam said in a statement here.
The investment would be Enam’s first significant investment in the private equity domain in the media sector.
The group has been an early investor in several sectors including media, with past investments in Zee TV, TV18 and Balaji Telefilms.
“Arre and Enam have a unified vision of making Arre the definitive multi-genre, multi-format digital destination for a whole new world of digital consumers pan-India and going forward in geographies outside India,” Founder and Managing Director of Arre B Saikumar said.
Arre was founded by B Saikumar, Ajay Chacko and Sanjay Ray Chaudhuri and launched its website and social media offerings in earlier this month with original content ranging from articles that explore sub-culture and popular culture to audio-dramas in partnership with Saavn.