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.
Over the last three-four years several corporates, including the ADAG, Tata and Aditya Birla groups have set aside corpus for financing and distribution of movies.