MUMBAI: Just under four months after Lupa Systems CEO James Murdoch announced the formation of a new venture with former top Disney executive Uday Shankar that would “explore technology and media opportunities in emerging markets”, said entity has a name – Seven Islands Inc.
Seven Islands has been categorised as special purpose acquisition company (SPAC) and is seeking to raise between $300-345 million in the US stock market.
As per the filings submitted with the US market regulator SEC and reviewed by Indianbroadcastingworld.com, Seven Islands, incorporated in the Cayman Islands, has set out the following areas of interest for investment:
*High-Growth Markets – the company will seek opportunities in India and more broadly across Southeast and South Asia, in the media, entertainment, consumer technology, healthcare, and education industries.
*Strong Growth Prospects and Potential for Scale: the company will seek to acquire a business (or a combination of businesses) with attractive growth prospects and a large addressable market opportunity.
*Brand-Oriented – The company will seek to acquire a business that has built or developed its brand and competitive advantages.
*Will Benefit From our Leadership Team: The company will seek to acquire a business where the global network, scale and capabilities of the management and sponsor can be leveraged to improve operations and achieve significant growth of the target.
*Potential Industry Consolidator- The company will seek to acquire a business that is well-positioned to participate in sector consolidation or would benefit from a public acquisition currency.
*Potential for Significant Free Cash Flow Generation – The company will seek to acquire a business with the potential for significant free cash flow generation that can be re-invested to accelerate compounded growth.
*Drives Shareholder Return Over the Long-Term – The company will seek to acquire a business that offers an attractive risk-adjusted return for our shareholders, weighing potential growth opportunities and operational improvements in the target business against any identified downside risks.
It bears noting that Nitin Kukreja, former Star Sports CEO and managing director, India at Lupa Systems is also part of the Seven Islands team.
Related Report
James Murdoch’s Lupa Systems teams up with Uday Shankar
