In a landmark achievement, the ‘Connect’ Fund has received its first round of funding, signaling a new era 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 dedicated AVGC fund in India, aiming to revolutionize the industry.
First-Round Funding Success: Connect fund prepares to boost AVGC innovation
Co-founded by Abhinav Shukla, a veteran in the media and entertainment field, the ‘Connect’ Fund is set to drive substantial growth in the AVGC sector. “We are committed to driving innovation and growth in the AVGC sector,” Shukla commented. “The ‘Connect’ Fund will provide the necessary resources and support to help AVGC companies thrive.”
The “Connect” Fund is strategically designed to bridge the existing gap between the promising AVGC industry and available capital resources. By leveraging ACME Group’s vast network and deep industry knowledge, the fund enhances the growth trajectory of this sector, making India a recognized leader in the global AVGC arena, known for its cutting-edge technologies and creative content.
The fund’s objective is clear: to accelerate the growth of emerging AVGC enterprises, enabling them to expand their reach and innovation capacities. “Through the ‘Connect’ Fund, we are not just investing in businesses; we are investing in the future of India’s digital and creative landscapes,” remarked Mr Ramon Talwwar, Managing Director & CEO of ACME Group. “We appreciate the confidence our investors have shown in this visionary endeavour, and we are excited to see the transformative impacts of our collective efforts.”
The AVGC-XR Promotion Task Force Report underscores the sector’s potential as a major growth driver for India’s media and entertainment industry. With the government’s support, including the designation of audio-visual services as one of the 12 Champion Service Sectors, the AVGC industry is poised for significant expansion. The ‘Connect’ Fund’s project scope of nearly Rs. 300 crores reflects its ambitious goals to support this growth. “The AVGC sector has immense potential to contribute to India’s economy and create quality jobs,” Shukla noted. “The ‘Connect’ Fund is here to unlock this potential and help the industry reach new heights.”
The first round of funding will empower the ‘Connect’ Fund to invest in innovative projects and technologies in the AVGC sector, fostering a vibrant ecosystem for startups and established companies. This funding will also enhance the sector’s capacity to create quality jobs and showcase Indian culture globally. “By supporting projects that leverage cutting-edge technologies, we aim to drive the AVGC industry forward and create new opportunities for growth,” Shukla explained.
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.”
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