India, May 23 -- Drawing on his wealth of experience in the entertainment space, former Brightcove country head Viniit Mehta has floated a new fund to capitalise on India's growing "attention economy".

Pressplay Capital, founded by Viniit and Devang Mehta, has kicked off plans to raise $10 Mn for its maiden fund to back startups in sectors such as gaming, adtech, media tech, and sports tech.

"We started raising funds about a month back. Commitments are coming in fairly quickly, so we are confident of going ahead with this," Viniit told Inc42.

The UAE-based fund is in the process of getting the regulatory approvals, but the VC firm plans to mark the first close of the fund by August-September 2025.

"We are in the process of forming a (...