Media services firm Prime Focus today said private equity fund Ambit Pragma has invested an undisclosed sum in its subsidiary Prime Focus Technologies.
“Prime Focus Technologies (PFT), the technology subsidiary of Prime Focus...has secured the first round of funding from Ambit Pragma, a growth capital private equity (PE) fund,” Prime Focus Ltd said in a BSE filing.
It further said: “Ambit Pragma generally invests as the first institutional investor in companies and supports management teams in accelerating growth, leveraging its teams’ deep operating experience. Transformative businesses in the Media & Entertainment (M&E) industry, besides three other industry verticals are of particular interest to the fund.”
Prime Focus said PFT proposes to use the investment for intensifying development efforts of the SaaS products including CLEAR Media ERP and gaining deeper penetration and growth in strategic markets such as North America and EMEA with increased Sales and Marketing efforts.
Shares of Prime Focus Ltd were trading 2.20 per cent higher at Rs 64.95 apiece on the BSE.