Singapore-based media investment company Vistas Media Capital (VMC) has set up a production company in Abu Dhabi and plans to launch a US$150 million fund for special purpose acquisition companies (SPACs). This is part of its expansion plans in the Middle East and North Africa (MENA) region.

The news comes after VMC’s SPAC (Vistas Media Acquisition Company) merged with Anghami, a music-streaming platform in the MENA region, which led the latter being listed on the Nasdaq in the US.