TV18 to invest Rs 50 cr in early stage funds

New Delhi, Aug 17: Leading media content provider Television Eighteen Ltd today said it has authorised its board to make investments in early stage funds up to Rs 50 crore and set up a Media Venture Capital Trust (MVCT) for the purpose.

In a meeting held earlier this week, the members of the company passed a resolution authorising its directors to invest in early stage and venture capital investments in the triple convergence space.

''The board of directors is hereby authorised to make, such investments, in their absolute discretion either directly or indirectly in such investee companies or through a Media Venture Capital Trust (MVCT) established for the aforesaid purpose,'' a company statement said.

The MVCT shall be suitably structured as a tax efficient investment vehicle for undertaking these investments and would offer co-investment opportunities to the promoters of the company and other identified reputed investors.

The company would seek to invest, directly or indirectly minority stakes primarily in high growth companies through repayment guaranteed/collateralised instruments convertible into equity, with an option to increase upto majority stake at a later date, wherever possible, subject to necessary provisions and approvals.

UNI