London-based VFX company DNEG Group has secured a $200M capital injection from Abu Dhabi investment firm United Al Saqer Group (UASG).
The company, which has previously specialized in VFX and animation, said the new funds would be used to accelerate its strategy of innovation and diversification and plan to become a sector-agnostic content production and AI-powered technology partner.
Next steps in this strategy will be the full activation of technology division Brahma, which is developing an AI-powered, photo-real CGI creator, including Ziva, for which DNEG recently acquired the exclusive license from Unity.
“My career has been built on investing in and leading visual creativity with technology. 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,” said DNEG Chairman and CEO Namit Malhotra.
“This investment will accelerate our plans to further drive The DNEG 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. We are building on our success with the opening of a studio in Abu Dhabi, bringing content creation and technological capabilities to the region, positioning us as a leader there, and allowing us to leverage our global capabilities like no other.”
The $200 investment will also enable DNEG’s intellectual property (IP) and content creation arm, Prime Focus Studios to expand its involvement in the production of high-quality content, following its recent successful co-production of The Garfield Movie.
In further related developments, DNEG said it 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.
Prabhu Narasimhan will take a leave of absence from NaMa Capital to oversee the launch and expansion of Brahma.
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