CineNow Secures 1,350 Crore to Fund Indian Film Slate via UAE Hedge Fund-Backed AIF-Like Structure

CineNow, a film‑and‑entertainment investment platform founded by Rohit Dalmia, has raised a ₹1,350‑crore (approximately US$170 million) close‑ended fund to finance a slate of Indian feature films. The capital comes primarily from hedge funds based in the United Arab Emirates and will be deployed through a structure that mimics an Alternative Investment Fund (AIF) under Indian regulations.

The platform is a special‑purpose vehicle incorporated in the British Virgin Islands and is positioned to convert film intellectual property (IP) into structured, investable assets. According to reports, CineNow’s model allows producer‑financiers to invest in the fund while still backing their own projects, thereby gaining upside exposure to the broader slate and diversifying risk.

The first slate of films is currently under evaluation. CineNow’s executive team is reviewing production proposals, budgets, and projected revenue streams before committing capital. The company has announced that it will expand its investor base beyond the initial UAE hedge funds to include institutional investors and family offices.

In a recent announcement, CineNow named Siddharth Roy Kapur, a media entrepreneur and former head of production at several major studios, as principal advisor. Kapur’s role is to help identify high‑potential projects and to strengthen the platform’s relationships with production houses.

CineNow’s approach incorporates tokenisation of film IP, a technology that allows fractional ownership of a film’s future earnings. The platform claims that tokenisation, combined with the AIF‑like structure, can attract a broader range of investors, including retail participants who are otherwise excluded from traditional film financing.

The AIF‑like framework is designed to comply with the Securities and Exchange Board of India’s (SEBI) guidelines for alternative investment funds. By structuring the investment vehicle in this manner, CineNow can offer investors a regulated, transparent investment vehicle that can make outbound investments in Indian film IP.

Industry analysts note that the Indian film market has historically relied on a fragmented financing model dominated by producers, studios, wealthy individuals, pre‑sales, and private financiers. The new model seeks to address the concentration of risk that producers face when financing a single project.

CineNow’s fund is expected to provide a diversified portfolio of films across multiple genres and languages. The company has not yet disclosed the specific titles that will be included in the slate, but it has indicated that it will consider projects with strong commercial prospects and proven creative talent.

The platform’s launch follows a broader trend of alternative investment vehicles entering the entertainment sector. Similar structures have been used in other markets to bring institutional capital into film production, but CineNow is the first such vehicle to focus exclusively on Indian IP.

The fund’s capital will be deployed in a staged manner. Initial investments will cover pre‑production costs, while subsequent tranches will fund production and post‑production activities. CineNow will also provide distribution support through its network of partners.

The company’s strategy aligns with a growing interest among family offices and institutional investors in entertainment assets as a hedge against traditional market volatility. By offering a regulated, diversified investment vehicle, CineNow aims to attract capital that can be deployed across multiple projects, thereby reducing the impact of any single film’s performance.

CineNow’s founder, Rohit Dalmia, has publicly stated that the platform’s goal is to reshape the way films are financed in India. He has highlighted the potential for tokenisation and fund‑based structures to unlock new sources of capital and to create more predictable revenue streams for producers.

As of now, the platform is in the evaluation phase for its first slate and has not yet announced any specific film releases. Investors and industry participants will be watching closely to see how the fund’s capital is allocated and whether the AIF‑like structure delivers the intended diversification benefits.

The next steps for CineNow include finalising the slate of projects, completing due diligence on each title, and beginning the capital deployment process. The company will also continue to seek additional institutional and family office investors to broaden its capital base.

The platform’s launch marks a significant development in the Indian film financing landscape, offering a new model that blends traditional production investment with modern financial engineering. The outcome of CineNow’s first slate will likely influence future investment approaches in the sector.