Vishnu Manchu took to social media today to announce a unique collaboration with Hollywood star Will Smith. This ain’t going to be for a film but they will be joining hands for his Taranga Ventures, a media and entertainment technology fund.
The talks for this international association is in final stages of negotiations and an official public reveal of the same is expected soon. After an exclusive investor briefing, the fund is expected to launch officially next week.
A $50 million fund, Taranga Ventures has a potential of another $50 million extension and aims to drive innovation in media and entertainment industry. It is registered in both India and Delaware, USA, and works on the belief of “combining creativity with cutting edge technology to industry innovation”, according Manchu.
The focus is on investing in transformative technologies and industries such as digital platforms, animation, gaming, blockchain, artificial intelligence, virtual reality, and more. The fund will provide support for mergers, acquisitions and other growth opportunities. In addition to financial backing, the fund will also offer strategic mentorship to entertainment sector startups.