Date of investment: July 2004

DQ is engaged in 2D and 3D animation production and content distribution. Founded by a first generation entrepreneur Tapaas Chakravarti, who brought substantial experience of international marketing and business management to DQ, it quickly established itself as the largest 2D animation studio in India and was leveraging its animation skills to scale the 3D division. When IVFA came on the scene, DQ had orders from some of the largest studios in the world namely Disney, Warner Bros, Dreamworks SKG, Cartoon Network and Method Films.

With IVFA, DQ scaled up its 3D and gaming divisions. Management was significantly strengthened. DQ successfully completed the pilot for a gaming project for Electronic Arts and obtained significant business. During this period, DQ’s revenues and profits continued to grow steadily and it successfully listed on AIM in December 2007. IVFA divested its stake in DQ as a part of IPO.

• IVFA investment rationale >
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  Animation industry - a sunrise industry DQ Acknowledged as the largest 2D animator in India Substantial investments had been made in 3D Clients like Disney, Warner Bros, Dreamworks SKG, Cartoon Network
• IVFA value addition >
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  Developed templates for strengthening operational controls Built capability for benchmarking productivity Worked with management to examine potential for new sources of revenues Supported in setting-up high corporate governance standards Helped in structuring and positioning the Company for IPO

"Our engagement with IVFA has been a rewarding one. Even prior to the transaction, which we concluded in July 2004, IVFA has generously contributed towards building our business. We have found their transparent approach and depth of understanding of our business to be refreshingly different."

Tapaas Chakravarti - MD & CEO, DQ Entertainment Limited

Detailed information on the Company is available at www.dataquestinfoway.com