DAR Capital gets Rs 2.5 bn film fund moving

MUMBAI: London-headquartered private equity firm DAR Capital has received Rs 1 billion in its first tranche for a Rs 2.5 billion film fund that it is creating to provide financing support to Bollywood and regional cinema in India.

"We have already got commitments of Rs 2.5 billion from our investors in India, Middle East and Europe. We have till date accepted approximately Rs 1 billion as the first tranche. Our strategy is to link the funding stages to deployment," says a source in DAR Motion Pictures.

Dar Motion Pictures, the movie arm, has already worked out the first stage of its investment plans and will be deploying Rs 1 billion across six films.

The roster includes a Rs 1 billion three-movie deal for 3D with BVG Films, spread over three years. Haunted 3D, India‘s first stereoscopic 3D film, will have Vikram Bhatt at the helm and is scheduled for release on 6 May.

"We have already lined up two Marathi films. The first has already been shot and is scheduled for a third-quarter release. We have also firmed up an outright Hindi family entertainer," the source added.

In its alliance with Vikram Bhatt‘s BVG Films, Dar Motion Pictures will produce, market and release the films.

The relationship extends to UFO Moviez, a satellite delivered digital cinema network.

While BVG Films and DAR Motion Pictures will be spearheading the production and marketing effort, UFO will provide technical and 3D exhibition related expertise and infrastructure.

Says Bhatt, "A new industry is emerging and this is the dawn of that industry. When all arms of movie making come together, nothing can keep that movie making industry growing from strength-to-strength. This is the big coming together of production, distribution and exhibition companies to keep the 3D space alive and kicking."

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