Tamil director plans ambitious Rs 1 billion film fund

MUMBAI: Tamil film

director Gautham Menon is on an ambitious mission of setting up a Rs 1 billion film fund to assist financing of southern language movies.

India has two film funds, Vistaar Religare Film Fund and Cinema Capital Venture Fund, that cater mainly to Bollywood films. This will be the first drive to have a south-dedicated film fund.

While big corporates have entered Bollywood and extended their production to regional fare including down south, local corporates have shied away from getting engaged in financing films.

"We see a gap in the market and are keen to float a Rs 1 billion film fund that would support the weaker producers," Menon tells

The process is on to get the fund registered soon. "We are in talks with several people and want to get the fund rolling by November," says an enthusiastic Menon.

That wouldn‘t be easy. An escalation in costs and slowdown in the economy have made film projects riskier. Several corporates, who were attracted to the glamour trade, have also burnt their fingers.

Menon, however, is not put down by these challenges. He is confident that the fund would have the support of 10 venture capitalists as investors including his own production company

, Photon Factory.

Menon has earlier directed films like Chennaiyil Oru Mazhaikalam, Azhagiya Kuyile, Minnale and a Hindi film Rehna Hai Tere Dil Mein.

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