Former Star, Cola executives’ venture to raise $25-30 million

Singapore-based incubator, To The New Ventures, is planning to raise $25 to $30 million to fund its talent-led digital entertainment network, #fame.

Promoted by the Malaysia-based Astro Overseas, Ex-Marketing Head at Star India Puneet Johar and Ex-CEO of Coca-Cola Sanjeev Gupta, To The New Ventures is an internet-based products and services company, which has been funding a slew of internet companies like online retailer American Swan.

With the intention of creating a market for live video entertainment, where performers can beam live to their fans, #fame was launched last year and is targeting 50,000 performers in the next six months.

Puneet Johar, CEO, To The New Ventures, said: “We help in building companies and have already invested $10 million in #fame when it started operations in 2014 and would be raising an additional $25-30 million from strategic and financial partners as we want to take #fame to other markets in South-East Asia.’’

Comparing #fame to other internet-based talent companies in the West like Periscope and Meercat, which is about live video programming on smart phones and video on demand content, #fame is expected to be the first app in this space in India.

“Live video programming on smartphones is a new concept even in other markets and most of the online apps in this space like Periscope and Meercat have been launched in the past two months. We are targeting the youth in the 18-25 age group who can video record their talent across genres. It could range from amateurs to professionals and is one if the hottest spaces to be in online video today,” added Johar.

With revenue streams like advertising and games, #fame expects up to 10 million app downloads in the next six months.

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