Visual entertainment tech services company , the DNEG Group ,on Tuesday said that it has raised  $200 million from United Al Saqer Group at a total enterprise valuation in excess of $2 billion. DNEG is a subsidiary of Prime Focus Studios and provides visual effects, animation, and associated creative services to Hollywood and global visual entertainment creators.

The company said this investment by UASG will accelerate the Group’s strategy of innovation and diversification to evolve from a pure visual effects services provider to a sector-agnostic content production and AI-powered technology partner. 

It outlined that the funds will be used to  fully activate its technology division, Brahma, which is AI-powered, photo-real CGI creator, which aims to democratize photo-real content creation in a wide range of applications. 

The fund raise will enable  Prime Focus Studios to expand its investment in, and production of high-quality content. It is currently co-producing a number of high-profile feature films, including Animal Friends, Indian epic Ramayana, and The Angry Birds Movie 3.  

The Group will  also open a new office and visual experience hub in Abu Dhabi, with plans to develop a world class ecosystem in the Middle East for content production, storage, and distribution.

“DNEG Chairman and CEO Namit Malhotra will continue in his current role. He will be joined on the Group’s Board of Directors by Nabil Kobeissi and Edouard Zard from UASG, and by Prabhu Narasimhan from NaMa Capital, a leading investor in The DNEG Group, who will also become Executive Chairman of Brahma,” the statement added.

Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development said, “The strategic investment by United Al Saqer Group in The DNEG Group is a testament to Abu Dhabi’s emergence as a global powerhouse for creativity, innovation, technology, and investment. This partnership not only accelerates technological advancements in the media and entertainment sectors but also underscores our commitment to fostering a robust ecosystem for content creation.“

DNEG Chairman and CEO Namit Malhotra said, “Our partnership with UASG, the launch of Brahma, and the success of our content creation platform are all being fuelled by the power of our technology. We are redefining our business model as a leader in top-end solutions across the world, raising the bar in storytelling by using the latest technology and creative capabilities.”

Nabil Kobeissi, CEO of UASG said, “This strategic partnership not only turbo-charges the development of Brahma, the Group’s ground-breaking AI-powered CGI creator, but also, under Namit’s leadership, demonstrates Abu Dhabi’s positioning as a global epicenter for content creation and distribution. By championing advanced AI technologies and expanding Prime Focus Studios, we are set to drive innovation and generate significant job opportunities across the UAE.”

“This investment will accelerate our plans to further drive the Group’s existing activities and enable the Group to expand its offering, both in terms of the services we provide and the markets we operate in,” Malhotra added.