BEIJING, CHINA — Mumbai, India-based Prime Focus Limited (www.primefocusltd.com) had announced plans to open a new office in Beijing. The move will bring production, visual effects, 3D conversion, animation, technology, and media management solutions to the country. Prime Focus made the announcement at the Shanghai International Film Festival.
The new office is set to open in Q3 of this year. The move into China comes on the heels of the recent joint venture between Prime Focus Limited, AID Partners Capital and Zhejiang Jingqi Wenhua Chuanbo Company Limited. AID Partners Capital is a Hong Kong-based private equity firm focused on expansion capital and buyout opportunities primarily in the media and entertainment sector. In March, AID Partners Capital made an equity investment of $10 million in the creative services business, Prime Focus World NV (PFW), a subsidiary of Prime Focus Limited.
In addition to Beijing, Prime Focus maintains offices in Los Angeles, Vancouver, New York, London and Mumbai.
“We are enthusiastic about the shared opportunities our expansion into China brings,” says Namit Malhotra (pictured), founder of Prime Focus, “We have always recognized the advantages that globalization coupled with intense localization brings and have evolved our business strategy accordingly. After India, Europe and North America, China was the growth story waiting to happen. We are fortunate to have had AID Partners Capital extend the relationship beyond investment in to a formal market entry vehicle to expand our footprint in to one of the most influential markets in the world. I look forward to offering our full suite of creative and technology services to the Chinese market."