Tustin, CA, USA — California based, ProFun Management Group and New Delhi based, Morris St. Advisors recently announced a joint venture relationship pursuing entertainment and attraction development projects in India. Already containing 17.5% of the world’s population, India is projected to be the world’s most populous country by 2025. It is expected that, in 2020, the average age of an Indian will be 29 years. The demographic profile of India also favors higher spend on entertainment, with the consuming class forming a sizeable chunk of the country’s total households. Thus, this could lead to the emergence of a huge consumer base for the various products and services including entertainment.
Robert Knox, Senior Advisor and Mentor at Morris St. Advisors said “There is increasing interest in consumer led sectors from international investors and we believe that the entertainment sector will attract international investment both from strategic partners and private equity. We are very happy to be engaged with ProFun in this exciting endeavor.” Robert Knox is a co-founder and Senior Managing Director of Cornerstone Equity Investors, LLC and also serves as the Chairman of the Board of Trustees of Boston University.
“We are excited about the opportunity of returning to India to work with such an esteemed partner as Morris St. Advisors,” Dave Schmitt, President and CEO of ProFun stated. “Obviously, we believe there is great potential for the development of new entertainment attractions in India. By entering the Indian market, we are strengthening our position in the emerging Asian markets, which are a focal point of our international growth strategy.”
Rohit Tiwari, the CEO and Managing Director of Morris St. Advisors commented that he and his firm have tremendous confidence in ProFun based on the many high-quality, international projects with which ProFun has been involved. “We are looking forward to a very rewarding experience for our two companies as well as our future attraction guests,” said Mr. Tiwari.
With offices in New Delhi, Mumbai and London, Morris St. Advisors provides a broad range of financial and strategic advice, services and products to clients of all types in the entertainment and related media businesses from their very earliest stages of development all the way through to maturity. The Media & Entertainment Group focuses on assisting clients in the development and structuring of all forms of business strategies and models, the raising of capital and selection of and ongoing advice to management.
ProFun Management Group provides attraction developers with a wide range of planning and management services designed to increase visitor attendance, achieve operational excellence, and maximize financial performance. Headquartered in Tustin, California, and with offices in Shanghai and Dubai, ProFun Management Group brings more than 250 years of shared experience to the management and operation of theme parks, entertainment centers, visitor centers, attractions and other leisure-time projects. Having worked with clients all over the world – such as Ferrari World Abu Dhabi, uShaka Marine World in South Africa and projects in Badaling at the Great Wall of China, to name a few – ProFun continues to deliver big-time entertainment on a human scale all over the world.