Tokyo based Sony Corp. is setting up an India-focused venture capital People aware of the development told ET that Arm, which will work with celebrities such as film stars and sports personalities to co-invest in startups and participate in the funding boom that has spawned many unicorns in the last 12 months Is.

$81 billion global media conglomerate with businesses as diverse as gaming, film and music production and electronics manufacturing, commits to $200 million You To begin with, the sources said.

It has signed Vijay Singh, former CEO of Fox Star Studios, to lead the new venture. In his previous assignment, Singh spent 13 years with Fox Star and helped build film studios in the country.

In 2016, Sony launched an innovation fund with a global focus. However, the new VC arm is a first of its kind initiative within the group that will aim to leverage Sony’s celebrity network in India to create an India-specific investment pool that could be of long-term ‘strategic value’ for the group. Sources said.

A query mailed to Sony Corporation remained unanswered. Separately, Singh did not respond to ET’s calls and emailed queries.

Cricketer’s successful investment Virat Kohli And film star Deepika Padukone will serve as a template for Sony’s upcoming VC stakes, sources said.

Kohli has earned manifold returns from his investments in an online general insurance startup points insurance, which was its first unicorn this year and has received two rounds of funding since January after being invested by VC investor Sequoia Capital in its latest round in July, raising its valuation to $3.5 billion. Kohli and his wife, Bollywood actor Anushka Sharma, had
Invested Rs 5 crore in the company in February 2020.

padukone
Invested in FMCG startup Drum Food which owns Epigamia brand of health food products. French dairy giant Danone is also an investor in the company.

This is not Singh’s first stint on Sony. In the past (1996–2002), he was associated with Sony Music in India as Managing Director, where he helped establish the firm’s music label business in the country.

He left Fox Star Studios in April last year, following the completion of Disney’s acquisition of Star India.

At the time, there was buzz in the market that Singh would join a global media technology company, which would lead its India launch.

Under Singh’s leadership, Star India entered Bollywood in 2008 with the distribution of ‘Kismat Connection’ and ‘Jannat’. Over the years, the studio has had a mixed performance history.

Singh has a strong association with Karan Johar’s Dharma Productions, with whom the company co-produced and distributed several films, including ‘Kalank’, ‘Student of the Year 2’ and the upcoming ‘Brahmastra’.

The company also distributed films by Sajid Nadiadwala, Vishesh Films and Ajay Devgn FFilms.