IT bigwigs to promote visual media

NEW DELHI: Kaleidoscope Entertainment is investing Rs 400 crore into its film and television projects over the next four years. The source of funding would primarily be an expanded equity base and internal accruals. The expanded equity is coming from private placements by venture capitalists based in the Silicon Valley and equity funds.

Bobby Bedi, who is also the managing director, founded Kaleidoscope Entertainment. It has IT stalwarts like Kanwal Rekhi, Saurabh Srivastava and Pradeep Gupta, Managing Director, Cyber Media on its directorial board.

The group’s next release — Saathiya - is being presented and distributed by Yash Raj Films. It has also tied up with Ketan Mehta for co-producing an international film based on the 1857 Mutiny, starring Aamir Khan as Mangal Pande and have set up a joint venture CrossOver Films with Mani Ratnam for producing international films.

Addressing a media briefing, Bedi said that Kaleidoscope has been very keen to bring in the experience and success of the Silicon Valley venture capitalists in the IT sector and use this experience in the entertainment area. "One of the fundamentals of the success of India’s software industry has been its ability and expertise to tap global markets. This has been done through proactive trade associations and multiple collaborations," said Srivastava.

In his address, Gupta said, "There’s a growing need for qualified professionals in the industry. We aim to create not just technicians, but managers who can take this goal of internationalizing Indian films and entertainment, forward."

Also present in the media briefing were Farrukh Dhondy, script-writer, author, and the former commissioning editor of Channel 4 TV, UK and the commissioning editor of Kaleidoscope and directors Mani Ratnam and Ketan Mehta.