Nikhil Kamath, the co-founder of Zerodha and True Beacon, has invested in Collective Artists Network, the creative entity behind the Under-25 universe.
What Happened: According to a report by The Economic Times on Wednesday, Kamath’s investment is set to fuel the expansion of Collective Artists Network led by Vijay Subramaniam. The company is well-known for its contribution to the Under25 universe, a platform that engages and empowers the youth.
Collective Artists Network, a talent management and content production firm, has played a crucial role in the creation of the Under-25 universe. The specifics of the investment, including the amount and terms were not revealed.
See Also: BEL Erases Early Losses To Climb 2% As Upbeat Outlook Boosts Stock
The investment is made through a secondary transaction. The investment also provided an exit for InMobi’s Glance, an early investor in Collective Artists Network. Glance made more than five times the return from their initial investment in 2021, the company said in a media release.
Kamath’s investment in Collective Artists Network is a strategic move that could potentially reshape the landscape of the Indian media and entertainment industry. With his proven track record in the financial sector, Kamath’s entry into this new domain is expected to bring fresh perspectives and innovative strategies.
“I’ve witnessed the company’s evolution over the last couple of years and I’ve known Vijay now closely and believe in his vision of the transformation of this space. We have a similar outlook towards the India story. I look forward to being part of this journey wherein Collective challenges the status quo and aims to redefine the media landscape and creator ecosystem”, Nikhil Kamath said.
Read Next: 91 Indian Cities In 1,000 Best City List, None In Top 100
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.