PRINT THIS PAGE 3i enters Indian market with $45m investment in Nimbus08/08/2005. Source: AltAssets. 
 Private equity and venture capital firm 3i has entered the Indian market with a $45m investment in Nimbus Communications, a Mumbai-headquartered media and entertainment company. The investment is the largest ever-private equity investment in the Indian media and entertainment industry, according to 3i.
Nimbus's lines of business are television, sports, motion pictures and digital content. Its business operations are spread across India, Singapore, the UK, South Africa and the Caribbean.
Anil Ahuja, managing director and co-head Asia, said, '3i likes companies that seek aggressive growth tempered by prudent capital management. 3i believes that Nimbus, with its impressive track record, management depth and global business strategy, is well positioned to achieve its goal of becoming a billion dollar company by 2010.'
3i and Nimbus announced that the investment will fund sports rights acquisitions, develop global sports events, augment long-term working capital, fund investments in TV production and infrastructure expansion, finance Indian language and international film production, Indian language film distribution and mobile content distribution. It will also enable Nimbus to develop further digital content production for wireless and video on demand platforms. In addition, the company will explore investments in sports and lifestyle broadcasting.
3i focuses on buy-outs, growth capital and venture capital and invests across Europe, in the United States and in Asia Pacific.
3i appointed Anil Ahuja earlier this year to head 3i's Indian business. Ahuja previously worked for JPMorgan Partners Asia, where he oversaw the firm's investments in India. Prior to joining JPMorgan Partners Ahuja spent eleven years at Citibank India.
Copyright © 2005 AltAssets
|
