Participant, DFI in $100m fund
Participant Media and Doha Film Institute (DFI) announced a $100m revolving fund on Wednesday  to back what is expected to be 12-16 features over five years.
The partners will work together closely on the development and production initiative and oversee production and arrange worldwide distribution.
Participant and DFI said in addition they were exploring opportunities to establish:
- a joint venture to create content for Participant’s new television channel that will launch in August;
- a distribution outlet for DFI’s feature output through Participant’s media interests in the US and other territories;
- an Arabic version of TakePart.com, Participant’s online division and social action network to create Middle-Eastern based content in Arabic and English for global distribution;
- a Middle East branch of Participant to be based at DFI’s Qatar headquarters.
Participant and DFI are currently co-financing with other parties an animated feature adaptation of Khalil Gibran’s The Prophet, which is currently in production and targetted for release in 2014.
Participant Media Jim Berk [pictured] said Wednesday’s development would create a “transformational partnership” for his company and DFI.
The Institute’s CEO Abdulaziz Al-Khater added: “We are confident that this collaboration will be a catalyst for greater cross-cultural appreciation as we embark on a diverse and exciting set of projects.”
DFI’s head of film financing Paul Miller and DFI’s advisor/consultant Hal Sadoff brokered the deal on behalf of DFI with Participant COO Jeff Ivers.