The ‘Connect’ Fund, India’s pioneering investment fund for the Animation, Visual Effects, Gaming, and Comics (AVGC) sector, has successfully secured its first round of funding. Established by ACME Group under the AFPL CAT II AIF Trust and registered with SEBI (Registration No.: IN/AIF2/23/24/1309), the fund represents a significant milestone in the growth of India’s AVGC industry.
ACME Group, under the guidance of Managing Director and CEO Ramon Talwwar, brings a wealth of experience to this venture. With a distinguished legacy of over 11 years in the financial services industry, the ACME Group is known for its excellence and innovation. Ramon highlighted the groundbreaking nature of the fund, stating, “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.”
Abhinav Shukla, co-founder of the ‘Connect’ Fund, brings a wealth of experience to this venture with his distinguished career in the media and entertainment industry. “We are at a pivotal moment in the evolution of the AVGC industry,” Abhinav commented. “The ‘Connect’ Fund is here to provide the financial support and strategic direction needed to propel the sector forward.”
The AVGC industry in India has seen remarkable growth, with the animation sector expanding by 24% and the VFX industry by 103% in 2021. The AVGC-XR Promotion Task Force Report emphasizes the sector’s potential to create quality employment and position India as a global leader in media and entertainment. “The AVGC sector has the potential to be a major driver of economic growth and job creation in India,” Shukla noted. “Our goal with the ‘Connect’ Fund is to unlock this potential and help the industry achieve new heights.”
The ‘Connect’ Fund’s project scope of nearly INR 300 Crores highlights its commitment to supporting the industry’s growth. The first round of funding will enable the ‘Connect’ Fund to invest in cutting-edge technologies and innovative projects within the AVGC sector, fostering a vibrant ecosystem for startups and established companies alike. “Innovation is at the heart of our investment strategy,” Shukla said. “By supporting projects that leverage the latest technologies, we aim to drive the AVGC industry forward and create new opportunities for growth.”
As the AVGC sector continues to grow and evolve, the ‘Connect’ Fund is well-positioned to lead the way, driving innovation and growth in the industry. With its strategic focus on technology integration, skill development, and policy advocacy, the fund aims to create a vibrant and dynamic AVGC ecosystem in India. “Our vision is to create a thriving AVGC industry that not only contributes to the economy but also serves as a platform for showcasing Indian culture and creativity on a global stage,” Shukla concluded. “We are excited about the opportunities that lie ahead and look forward to working with our partners to realize this vision.”
