PE funds for movies

The movie industry dubbed them as flops. But films like Fiza, Yaadein and Ram Gopal Verma ki Aag delivered profits. Films like Om Shanti Om (OSO) and Namaste London delivered over 100 per cent returns while still under production. It is success stories like these are driving the new script being written for Bollywood. Private equity funds are now preparing to make use of this opportunity too. ICICI is backing a Cinema Capital Venture Fund (CCVF), the first of its kind, which is looking to raise Rs 500 crore from high net worth investors. As rapidly changing consumption patterns for entertainment and digital technology change the contours of the entertainment business, big funds are now getting ready to make their presence felt in the business.