Prime Focus arm Brahma AI raises $150 mn at $2-bn valuation from Multiples Private Equity, shares fall 4%

The latest market report highlights that Prime Focus Ltd on September 23 stated its step-down subsidiary Brahma AI Holdings Ltd has boosted $150 million through equity issuances led by Multiples Private Equity Gift Fund IV and Multiples Private Equity Fund IV, at a $2-billion post-money valuation. Following the financing, Prime Focus will keep be the largest shareholder of Brahma AI, through its subsidiary Double Negative Holdings Ltd. (UK), according to a press release by Prime Focus.

Brahma AI has additionally received a further $100 million of investor demand, and it will evaluate an upsize of the round to accommodate some or all of that interest, according to the press release. Brahma AI is the artificial intelligence-native operating system for enterprise audiovisual content.

Brahma AI and Brahma India, another material subsidiary of Prime Focus, have proposed to enter into agreements to receive investments from Multiples Private Equity Gift Fund IV and Multiples Private Equity Fund IV, respectively, which will together invest $100 million in those subsidiaries of Prime Focus, the firm stated in a separate exchange filing. While Multiples Private Equity Gift Fund IV has proposed to subscribe to compulsorily convertible preference shares of Brahma AI Holdings for $54.36 million, Multiples Private Equity Fund IV has proposed to subscribe to compulsorily convertible preference shares of Brahma India for $45.64 million.

"Brahma AI was founded and is led by Founder & CEO Prabhu Narasimhan. Brahma AI was born from Narasimhan’s vision to bring together the technology stack and capabilities developed across DNEG, Metaphysic and Prime Focus Technologies to build an AI-native platform for the world’s largest enterprises. Under his leadership, Brahma AI has developed its AI-native platform around Brahma AI Core and Brahma AI Studio, secured major global customers and partnerships, and expanded the application of its technology across media & entertainment, sports, healthcare and advertising. Today, Brahma AI combines enterprise content intelligence and management with sophisticated AI creation technologies spanning visual AI, digital humans, voice and multilingual performance," stated Prime Focus in a stock exchange filing.

At 10:50 am on September 23, Prime Focus shares were trading 4% softer at Rs 342.15 apiece.

Renuka Ramnath, Founder, MD & CEO of Multiples, stated: "BRAHMA AI is reimagining the content supply chain in the age of AI. Built on a unique heritage of Hollywood-grade technology and enterprise innovation, the firm is helping organizations unlock greater value through AI-powered content, intelligence, localisation, digital humans, and workflow automation. Its firm customer traction, differentiated capabilities and recognition thereof, including a 2026 Technology & Engineering Emmy® Award, reinforce our conviction in its ability to appropriate

the multi-billion-dollar market opportunity.

"Our investment is anchored in the belief that every enterprise is becoming a content enterprise. Prabhu, Jo and the broader team bring a deep understanding of the industries they serve and have translated cutting-edge AI into highly relevant solutions, spanning enabling multilingual visual experiences for films to developing digital twins for physicians. Multiples Private Equity will be an active partner as the firm navigates the next phase of expansion through investments in R&D, global market expansion, and talent & process build-out. The firm has all the ingredients required to build an enduring global institution in a category that is only beginning to take shape."