Bombay-based firm will fund film, Internet, e-commerce projects
NEW DELHI — Vijay Jindal, former vice chairman and managing director of Zee Telefilms (ZTL), has formed a venture capital company for new-media startups.ZTL owner Subhash Chandra will have a 40% stake in the Bombay-based company, which will fund feature film projects as well as initiatives related to the Internet and e-commerce. Jindal said the new company “will act as a facilitator for startups and those projects where financing is needed in the initial stage.” Jindal’s company has initial capital of $3 million. Chandra had announced last year that Jindal would run an Internet subsidiary of ZTL. With the exit of Jindal from ZTL, Chandra has abolished the post of managing director and promoted three other execs as full-time managers.