This is probably the first time a media fund focused on India being raised in London’s Alternative Investment Market (AIM). India Media Fund, a company established in Isle of Man, is raising about $150 million from AIM, and its shares will be traded in that market. The proceeds will be invested in the Indian media and entertainment sector over next 12 to 18 months.
The fund will be managed and advised by India Media Partners, which has executive directors like former Star India executive Andrew Carnegie and UTV chief Ronnie Screwvala. The fund is chaired by Roger Parry, chairman of Johnstone Press and YouGov.
London’s Times has a nice profile on Ronnie Screwvala. He tells the paper:
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