Rayo Withanage invests in Entertainment Platforms for Philanthropy

The Withanage family, led by Rahula Withanage, is investing $20 million, alongside other investors, into a new technology platform that will gamify various forms of multimedia entertainment to increase engagement and fundraising for philanthropic causes.

The new platform looks to develop gamification in a way that rewards both consumers and charities through engagement with an interactive platform, in order to engage people in causes and fundraising in non-traditional ways. The Withanage start-up is particularly interested in supporting the UN Sustainable Development Goals. One of the first projects will involve developing the next iteration of telethons, with the aim of integrating the arts, technology, and philanthropy.

The Withanage family office is behind the founding of the BMB Group and Scepter Partners, both multi-billion dollar investment platforms which unified sovereign investors across the Middle East and Asia. The Withanage family is currently focused on impact technology businesses, which aim to disrupt industry norms and outperform “traditional” competitors, while delivering positive social and environmental impact.

Rayo Withanage, Rahula’s son, recently took a sabbatical from private equity and is currently working as Program Coordinator for the Withanage Foundation. In 2017, Rayo Withanage, a New Zealand entrepreneur, purchased the famed Château de Vie estate which was Pablo Picasso’s final home. Château de Vie is one of the most important art production estates in the world, where Picasso produced artworks worth over $4 billion. The house is steeped in history and artistic legacy, having hosted Winston Churchill, F. Scott Fitzgerald and Ernest Hemingway, Salvador Dali, and iconic entertainers as diverse as Charlie Chaplin, Édith Piaf and the Rolling Stones. The estate has since been transferred to a new investment group.