Tokyo-based Sony Corp sets up an Indian-oriented venture capital wing for the startups including public figures which will be their co-investor and will support them to partake in funding rounds.
For this VC arm to come to life, the tech major is said to invest about $ 200 million and is banking on former Fox star CEO Vijay Singh who assisted build the film studio for nearly 13 years to lead the new venture.
Singh is not new to Sony, since he has worked there before and was formerly affiliated with Sony Music in India as managing director (1996-2002), where he supported in the establishment of the company's music label business in the nation.
He left Fox Star Studios in April of past year, following Disney's acquisition of Star India.
Singh was said to be joining a worldwide media technology business to spearhead its India initiate at the time.
Then there’s Padukone who has invested in Drums Food, a fast-growing FMCG company that owns the Epigamia health food brand.
Star India entered Bollywood under Singh's leadership in 2008, with the distribution of Kismat Konnection and Jannat. The studio's performance history has been uneven over the years.
Singh has a close relationship with Karan Johar's Dharma Production, with whom he co-produced and distributed multiple films, including Kalank, Student of the Year 2, and the upcoming Brahmastra.
As for the investments, the tech giant is betting on cricketer Virat Kohli and Bollywood actress Deepika Padukone to serve as a model for its future venture capital ventures.
As Kolhi's investment in online general insurance startup Digit Insurance, which was the year's first unicorn and has accomplished two rounds of funding since January, with a valuation of $3.5 billion after VC investor Sequoia Capital invested in its most recent round in July, has yielded multifold returns. In February 2020, Kohli and his wife, Bollywood actress Anushka Sharma, invested Rs 5 crore in the firm.
Then there’s Padukone who has invested in Drums Food, a fast-growing FMCG company that owns the Epigamia health food brand. Danone, the French dairy powerhouse, is also a shareholder in the firm.