Prime Focus said on September 23 that its step-down subsidiary, Brahma AI Holdings has raised $150 million through an equity issuance led by Multiples Private Equity Gift Fund IV and Multiples Private Equity Fund IV, at a post-money valuation of $2 billion. Following the funding, Prime Focus will remain the largest shareholder of Brahma AI through its UK-based subsidiary, Double Negative Holdings Ltd, according to a company press release.
Brahma AI has also received an additional $100 million in investor interest and is evaluating whether to increase the size of the funding round to accommodate some or all of the demand. The company describes Brahma AI as an AI-native operating system for enterprise audiovisual content.
In a separate exchange filing, Prime Focus said Brahma AI and another material subsidiary, Brahma India, have proposed entering into agreements with Multiples Private Equity Gift Fund IV and Multiples Private Equity Fund IV, respectively. Together, the funds are set to invest $100 million in the two subsidiaries. Multiples Private Equity Gift Fund IV has proposed subscribing to compulsorily convertible preference shares in Brahma AI Holdings for $54.36 million, while Multiples Private Equity Fund IV has proposed investing $45.64 million in Brahma India through similar securities.
"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," said Prime Focus in a stock exchange filing.
At 10:50 am on September 23, Prime Focus shares were trading 4% lower at Rs 342.15 apiece.
Renuka Ramnath, Founder, MD & CEO of Multiples, said, "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 company is helping organizations unlock greater value through AI-powered content, intelligence, localisation, digital humans, and workflow automation. Its strong 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 company navigates the next phase of growth through investments in R&D, global market expansion, and talent & process build-out. The company has all the ingredients required to build an enduring global institution in a category that is only beginning to take shape."
