Auraska Ventures Embarks on Rs 500-Crore Cultural Economy Fund
Auraska Ventures plans to launch a Rs 500-crore AIF focusing on sports, media, and entertainment. With SEBI approval pending, investments will begin soon after. Funds will target IP-driven ventures and celebrity-backed consumer brands, aiming for over 25% returns and significant sector investment over the next eight years.
- Country:
- India
Auraska Ventures has announced its ambitious plan to launch a Rs 500-crore alternative investment fund targeting the burgeoning cultural economy sectors such as sports, media, and entertainment.
The fund seeks SEBI approval, with deployments set to commence immediately post-approval, as emphasized by CEO Vishal Mahajan. It will channel investments into consumer brands endorsed by celebrities and platforms driven by intellectual property.
Mahajan indicates a particular focus on sports, investing significantly in new sports leagues. Aiming for an internal rate of return over 25%, the fund’s strategy includes equity and high-yield debt, with plans for additional fund offerings to further boost investments.
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