Shekhar Kapur, the director of Oscar-nominated film Elizabeth, is in talks to raise a $500 million fund in Singapore to invest in the entertainment industry, including movies and music across Asia, according to Bloomberg.
In an interview given to Bloomberg, Kapur said that the Investors in Singapore were more willing to bet on businesses that might take a longer period of time to make a profit, unlike hedge funds or private equity firms.
“Singapore's capital markets have the kind of maturity to sit for the long-term investments. Most of the hedge funds and private equity are like foam, little bubbles that form, take the money and off they go.” he said.
Kapur aims to capitalise on rapid economic growth in Asia, home to 3.8 billion people, or 60 per cent of the global population. In India, the second-fastest growing major economy after China, he directed Bandit Queen in 1994, a controversial film that gained international attention when it was banned by the Indian government.
Kapur plans to hire professionals to manage the fund, while he focuses on wooing global entertainment partners from the West. He expects to unveil his plan in the next three to six months.
In November 2005, Kapur joined UK billionaire Richard Branson, who owns Virgin Group, author Deepak Chopra and the US-based Gotham Entertainment to form Virgin Comics, a media company that creates original stories and epic myths for a global audience.
Source : Television Point