British-Indian VFX and animation company Double Negative Group (DNEG) has secured US$200 million in funding from Abu Dhabi-based VC firm United Al Saqer Group (UASG) that will go towards IP development in animation, live action and gaming; a new AI-powered tech division called Brahma; and the opening of a production studio in Abu Dhabi.

DNEG is now valued at more than US$2 billion, according to The Financial Times, and this new cash infusion will fuel its strategic mission to become more than just a service provider.

An undisclosed amount is earmarked to help DNEG’s Prime Focus Studios develop new entertainment projects to follow Sony Pictures’ The Garfield Movie, which Prime Focus co-produced with Columbia Pictures and Alcon Entertainment. This 2024 pic has generated US$215 million at the global box office since launching on May 24. Big-screen projects currently in production at the studio include The Angry Birds Movie 3 and Animal Friends, a live-action/animation hybrid starring Ryan Reynolds.

Meanwhile, Brahma will use some of the funding to develop an AI-powered, photo-real CGI creator tool designed to help storytellers and visual effects creatives translate their ideas to screen in faster, more cost-effective ways. 

And DNEG’s new “visual experience hub” in Abu Dhabi is expected to set the region up as a world-class ecosystem for content production, storage and distribution.

As part of the deal, UASG CEO Nabil Kobeissi and chief investment officer Edouard Zard have joined DNEG Group’s board of directors. And Prabhu Narasimhan from NaMa Capital, a leading DNEG investor, will become Brahma’s executive chairman. 

DNEG Group now consists of Prime Focus Studios, DNEG (which has studios in cities including London, Vancouver, Mumbai, Montreal and LA), Brahma and Prime Focus Technologies.