Ex co-founder of Sony Entertainment Television (SET Satellite Pte Ltd Singapore), Sudesh Iyer has picked up a strategic equity stake in Vistas Media Capital (VMC) for an undisclosed amount. VMC plans to increase its investments into India in the media and entertainment space while it continues to diversify into North America and the Middle East. With the help of Iyer, the company intends to launch a movie fund which will invest into both receivable financing as well as gap funding of projects. The fund will initially have an India focus and will expand into South-East Asia.
“I am very excited to join a group of young entrepreneurs who are trying to bridge the gap between creativity and finance. They have a vision which is very well articulated through their recent developments and they are an agile team which is tracking the evolution of the merger of media and technology,” Sudesh Iyer said.
VMC most recently announced the merger of its NASDAQ listed SPAC Vistas Media Acquisition Company (VMAC) with Abu Dhabi based leading music streaming platform Anghami on Nasdaq in a deal valued at approximately $220 million. Sudesh Iyer was a part of VMAC from the very beginning. VMC through its wholly owned subsidiary Golden Ratio Films currently holds investments and IPs in over 14 films and series in India and Hollywood. VMC’s content pipeline, presently at different stages of production spans across over 25 films and web-series IPs cutting across Bollywood, Hollywood, and Indian regional cinema, which will form the company’s slate for the next 3 years. “Having Sudesh Iyer as a part of our company validates our vision which he has bought into and at the same time he brings in many decades of experience and network in media amongst multiple other winning attributes. His presence on the advisory board and mentorship will surely help the company expedite its growth in this dynamic space,” Abhayanand Singh, group CEO, Vistas Media Capital, stated.
VMC will be launching a regional Indian language over-the-top (OTT) super app, starting with Marathi language, which will be a one stop platform for films, series, music, live streaming, theatre, literature and podcast in 2021. This will be further expanded to other languages such as Gujarati, Bhojpuri, Bengali, and Punjabi in due course.