VMCโs native arm Vistas International DMCC head, Sandeep Mishra stated out that; โWe have carefully evaluated all the gaps and the demand that exists in this region across the media and entertainment sector and the need for an investment platform that offers unique global investment opportunities for … Mena-based investors.โ
He also stated out that; โThe company will be able to bridge these gaps and โoffer unique investment solutions for asset managers, investment funds, family offices and high-net-worth investors in the region via the media unit and fund in Abu Dhabi.โ
Vistas International DMCC was established up in Dubai before the commencement of negotiations with the music streaming platform. Anghami, Spotifyโs challenger in the Arab League, is set to become the initial technology establishment from the province to list on the Nasdaq exchange in New York after an amalgamation with Vistas Media Acquisition Company.
The deal worth Anghami at $220 million, or is about 2.5 times its 2022 appraised revenues. The streaming platform is rising about $100m through the deal. Founders Eddy Maroun and Elie Habib stated out in March that about 70 percent of the profits would be put into powering out the overall progression.
Its strategic fund in Abu Dhabi will bank on on its expertise in content financing and offer the investors a prospect to procure out the stakes in superior purpose acquisition firms โ registered entities formed to merge with private ventures, permitting them to go public.
The investment vehicle will also pursue to invest in pre-listing financing deals and planned finance dealings in the film, web series and music content conception business in India and the Mena territories.
The business will be regulated by FโJacob Cherian, chief executive of VMAC, who will shift out from New York to Abu Dhabi.
VMCโs events and content manufacture firm will offer out the production services to Arabic, Hollywood and Bollywood films, counting films in Indian local languages.
It will be also powered by VMC co-founder Piyush Singh and will introduce the initial Abu Dhabi Media Fest in November.
โSo far, we have successfully built and grown the Indian content production, distribution and media investment business and invested in select Hollywood productions,โ stated out Mr Singh.
Over the past few years, content from Asian markets such as India, South Korea and China has reached a much wider global audience, said Mr Singh. โThe timing is now perfect for quality Arabic content to reach a wider global audience.โ
The nine-day event will comprise a film festival offering out the movies from South Asia and the Mena territories. It will also operate as a marketplace that is a common juncture together for the film-makers, investors and content procurers.
โThe strategic location of Abu Dhabi allows us to continue to deepen our footprint in India and also expand our experience, network and offerings in the Arab world through producing or co-producing and supporting local content makers.โ
