VCCircle

Television broadcasting space is seeing increasing private equity investment. Rajat Sharma's India TV is the latest to receive $11.5 million funding from FUSE+Media, an affiliate of US-based venture fund ComVentures. FUSE+Media's CEO and MD is Keyur Patel, a partner with ComVentures. The firm has invested through Mauritius-based CV Global Holdings and will pick up about 19.17 per cent for Rs 50.96 crore, valuing the company at some Rs 265 crore ($59.8 million). India's Foreign Investment Promotion Board has cleared the proposal.

Interestingly, ComVentures recently invested $20 million in India TV rival NDTV's UK subsidiary NDTV Networks, Plc. It's the holding firm for the two TV channels NDTV is launching shortly (NDTV Imagine and NDTV Lifestyle).

Besides this, Inx Media, the new broadcast venture promoted by individuals affiliated to ex-Star India CEO Peter Mukerjea, announced undisclosed investment from private equity funds like Temasek Holdings, New Silk Route and New Vernon Private Equity. The company has applied for approval from FIPB for the investment. According to Business Standard, Temasek - through Dunearn Investments - is picking up 19 per cent, New Silk Route 20 per cent, and New Vernon Private Equity Fund 6.31 per cent. The Indian investors include Kotak Mahindra Capital and Srei, although their holdings and investments are not revealed yet.