ACME Group's Subsidiary AFPL Secures its First Premier Funding for Rs 300 Crores "Connect" AIF
New Delhi [India], July 10: ACME Group, India's leading financial services institution, announced a monumental milestone with the successful first close of funding for its pioneering CAT II Alternate Investment Fund "Connect", dedicated to India's high-growth Animation, Visual Effects, Gaming and Comics (AVGC) sector. Securing the first funding from leading investors for the 300 Crore INR 'Connect Fund' marks the Group's entry into this strategic industry brimming with creativity and exponential growth potential.
ANI
Jul 10, 2024 12:02 IST
PNN
New Delhi [India], July 10: ACME Group, India's leading financial services institution, announced a monumental milestone with the successful first close of funding for its pioneering CAT II Alternate Investment Fund "Connect", dedicated to India's high-growth Animation, Visual Effects, Gaming and Comics (AVGC) sector. Securing the first funding from leading investors for the 300 Crore INR 'Connect Fund' marks the Group's entry into this strategic industry brimming with creativity and exponential growth potential.
Led by industry veteran Ramon Talwwar, MD & CEO of ACME Group, "Connect" aims to accelerate the meteoric rise of India's AVGC sector on the global stage. "As one of India's leading wealth management firms, we are thrilled to turn the spotlight on the country's talented AVGC sector," said Talwwar. "Our fund will empower passionate creators and innovators with the resources to translate imagination into reality while also providing investors with unique opportunities."
The Blockbuster Potential of India's AVGC Sector
Currently pegged at USD 4 billion, India's AVGC sector has charted an impressive CAGR of 15-20 per cent, driven by surging Internet penetration, rising disposable incomes and greater focus on intellectual property creation. With projections to reach USD 12 billion by 2030, the industry is gearing up to seize global market share on the back of skilled talent and cost efficiencies.
As the first domestic fund dedicated to AVGC businesses, "Connect" is designed to tap this vast untapped potential. The fund will identify high-potential AVGC ventures across animation, gaming, VFX and digital comics to provide growth-stage capital and handholding to scale operations.
Bridging the Gap: AVGC and Capital Markets
The "Connect" Fund is made to bridge the gap between the rapidly growing AVGC sector and capital markets, providing crucial capital and strategic expertise. Abhinav Shukla, Co-Founder of Connect Fund, added, "The Connect Fund is poised to significantly impact India's AVGC sector by providing businesses with the necessary capital and strategic guidance to achieve substantial growth and drive innovation."
Investor Confidence in India's Next Big Growth Story
The announcement of "Connect", and its successful first close underscores investor confidence in the Indian AVGC growth story. "We are thankful to our investors who share our vision of creating winning AVGC enterprises with global influence," stated Talwwar. "Their commitment propels our ambition of catalysing innovation and creativity in this sector."
As a pioneering force in India's investment landscape, ACME Group has helmed several market firsts across its business verticals. With the launch of "Connect", the Group now opens up new vistas of strategic collaboration and value creation in India's promising AVGC ecosystem. By providing comprehensive capital solutions and guidance to emerging entities, ACME Group aims to foster the next generation of creative powerhouses that will drive the legacy of Brand India globally through pathbreaking AVGC content.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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