Network 1 Media, a consultancy firm for the companies in digital and television media industry, has recently raised an undisclosed amount of growth equity from RVCF (Rajasthan Venture Capital Fund), reports Venture Intelligence. The terms and details of the deal remain undisclosed.
Although, Arup Ghosh, CEO N1 Media, declined commenting upon the funding when we contacted him.
N1 Media is the first media house in India that has an impeccable track record of providing TV consultancy. It involves launching TV networks from a ground zero position and combining that with a new vehicle called nnis (Network 1 News and Information Syndicate), that is catering to broadcast networks, online and mobile. The team has launched news channels like Sahara Samay, Channel 7 (now IBN 7) and News X for the INX Media group.
As per the reports, the current investment is done through RVCF’s SME Tech Fund which invests mainly in sectors such as IT/ITes, education, healthcare, agro products, auto components and other high growth sectors .
As per Mr.Girish Gupta CEO RVCF, N1 Media is a fast emerging media consultancy company specializing in news and current affairs channels. The infusion of the capital will help N1 Media to have significant position as News and current affairs content providing agency for domestic and International markets.
RVCF is a Jaipur (Rajasthan) based fund which manages two SEBI registered domestic venture capital funds – RVCF Fund I & SME TECH FUND – RVCF Trust II supported by 11 investors including RIICO and SIDBI as lead investors. The Fund undertakes individual investment in the preferred range of Rs. 50 million to 150 million.
The other companies in the portfolio of SME Tech Fund include International Oncology, Leeway Logistics, Shree Eduserve, etc. Some of its successful exits include Liqvid, HSIL and Rajasthan Patrika.
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