Catalyst for Change: Connect Fund's Initial Fundraise Sparks Growth in India's AVGC Sector

MUMBAI: In a groundbreaking development, the 'Connect' Fund has secured its first round of funding, marking a historic moment for India's Animation, Visual Effects, Gaming, and Comics (AVGC) sector. The fund, established by ACME Group under the AFPL CAT II AIF Trust and registered with SEBI (Registration No.: IN/AIF2/23/24/1309), is the first of its kind in India, dedicated exclusively to the AVGC industry.

Led by the co-founder Abhinav Shukla & ACME Group, the 'Connect' Fund aims to drive innovation and growth in the AVGC sector. The ACME Group, headed by Managing Director and CEO Ramon Talwwar, has a distinguished legacy of over 11 years in the financial services industry. "Our CAT II AIF is more than just a financial tool; it's a driver of change in the AVGC sector. We see a future where India's AVGC industry is at the forefront of global creativity and technology. This successful fundraising shows our investors' strong belief and trust in our vision.," Talwwar commented.

"The AVGC sector offers immense potential for growth and innovation," Shukla commented. "With the 'Connect' Fund, we are committed to providing the necessary support and resources to help AVGC companies reach new heights."

The AVGC sector, a crucial component of India's media and entertainment industry, has been recognized for its potential to create millions of jobs and contribute significantly to the economy. The AVGC-XR Promotion Task Force Report highlights the sector's role as a major growth driver, with the Indian government designating audio-visual services as one of the 12 Champion Service Sectors. "The government's recognition of the AVGC sector as a Champion Service Sector is a testament to its importance and potential," Shukla noted. "We are excited to be part of this journey and look forward to contributing to the sector's growth and success."

The 'Connect' Fund's project scope of nearly INR 300 Crores underscores its ambitious vision. This initial funding round will enable the fund to support startups and established companies in the AVGC sector, fostering innovation and technological advancement. As the AVGC industry continues to grow, the 'Connect' Fund will play a pivotal role in establishing India as a global leader in this dynamic field.

One of the key objectives of the 'Connect' Fund is to bridge the gap between creative talent and financial resources in the AVGC sector. By providing funding and strategic guidance, the fund aims to empower AVGC professionals to bring their creative visions to life. "There is a wealth of creative talent in the AVGC sector, but often, the lack of financial resources hinders their ability to realize their full potential," Shukla explained. "The 'Connect' Fund is here to bridge that gap and provide the support needed to turn innovative ideas into reality."

As the 'Connect' Fund embarks on this exciting journey, it remains committed to its mission of driving growth and innovation in India's AVGC sector. With its strategic focus on technology, collaboration, and policy advocacy, the fund is well-positioned to lead the way in establishing India as a global leader in the AVGC industry. 

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Submitted by TellychakkarTeam on Wed, 07/10/2024 - 16:24
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