VC funding movies in India

Venture funds are now eyeing Indian movies. Chennai-based Pyramid Saimira Theatre is setting up a $150m fund for production and distribution of regional and Bollywood movies.

Pyramid Film Fund will unveil itself over the next nine months in three avatars of $50m each — based on the level of risk and exposure.

The Pyramid group will sponsor around 25% of the fund, while the remaining is being raised from venture funds and institutional investors. The movies that the fund finances — mostly in the mid-budget range of Rs 5-10 crore — will be distributed and exhibited by Pyramid group through its country-wide theatre chain.