DNEG Group, the London-based visual effects studio known for its work on projects like “Dune” and “Stranger Things,” has secured a $200 million investment from the Abu Dhabi-based fund United Al Saqer Group (UASG).
The fresh funding, which values DNEG at over $2 billion, will allow the company to accelerate its strategy to “evolve from a pure services provider to a content production and AI-powered technology partner, providing the highest quality solutions across media, entertainment, and gaming.”
These opportunities include investment in new content by Prime Focus Studios, whose credits include “The Garfield Movie,” “Animal Friends,” “Ramayana” and “The Angry Birds Movie 3”; the launch of a new technology division called Brahma, which is developing an artificial intelligence-powered, photo-real CGI creator; and the opening of a new visual experience hub in Abu Dhabi with plans for content production, storage and distribution in the region.
Under the agreement, DNEG Group’s board of directors will be comprised of current CEO Namit Malhotra, UASG’s Nabil Kobeissi and Edouard Zard, and Prabhu Narasimhan from NaMa Capital, a leading investor in the DNEG Group, who will also become executive chairman of Brahma.
“We are thrilled to join forces with Namit, Prabhu, and the DNEG Group. Namit’s visionary approach to revolutionizing the media and entertainment industry through cutting-edge technology is unparalleled,” Kobeissi said in a statement. “This strategic partnership not only turbo-charges the development of Brahma, the Group’s ground-breaking AI-powered CGI creator, but also, under Namit’s leadership, demonstrates Abu Dhabi’s positioning as a global epicenter for content creation and distribution. By championing advanced AI technologies and expanding Prime Focus Studios, we are set to drive innovation and generate significant job opportunities across the UAE.”
In addition to “Dune” and “Stranger Things,” DNEG’s other credits include “The Last of Us,” “Tenet,” “Oppenheimer,””Interstellar,” “Blade Runner 2049” “Masters of the Air,” “Those About to Die,” “Here,” the live-action “Avatar: The Last Airbender,” “No Way Up,” “Devotion” and “The Muppets Mayhem.”
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