Singapore's VMC plans Mena expansion with $150m ADGM media investment fund
13 June, 2021
Singapore-based Vistas Media Capital, the parent of the special purpose acquisition company that's taking music streaming platform Anghami public, is expanding its footprint in the centre East and North Africa with an investment fund and an events and content production company in Abu Dhabi.
The planned $150 million multi-strategy investment fund depends in the emirate’s financial hub, Abu Dhabi Global Market, VMC said in a statement on Sunday. The company had already set up Vistas International DMCC in Dubai even before it began discussions withi Anghami.
“We've carefully evaluated all the gaps and the demand that exist[s] in this area across the media and entertainment sector and the need for an investment platform which offers unique global investment opportunities for local, Mena-based investors,” Sandeep Mishra, who heads Vistas International DMCC, said.
“[Following] the landmark Anghami transaction, with the set-up of our media company in Abu Dhabi and [the fund launch] we believe we will be in a position to bridge these gaps and provide unique investment solutions for asset managers, investment funds, family offices and high-net worth investors in the region.”
Source: www.thenationalnews.com