London-basedfilm financing company Baker Street Media Management has launched its latestequity fund, Take 9, to invest in British film productions.
Baker Street saidTake 9 would seek to raise up to $22m (£12.5m) in cash from private investors, tosupport films with combined budgets of up to $87.9m (£50m). Take 9 will provideup to 25% of film budgets.
Baker Street managingdirector Keith Evans noted that the fund would likely invest in "four to six projects,both smaller-budget and larger-budget films." To take advantage of the current Section48 tax relief before the new tax breaks take effect, all of the Take 9investments will be for films going into production before March 31.
Projects being consideredfor Take 9 investments haven't yet been announced, but Baker Street said they would be "a portfolio of top-quality filmschosen for their international commercial potential."
Take9 isn't a sale-and-leaseback scheme, but will rather be a productionpartnership that is sale-and-leaseback compatible.
Baker Street is no longer working with financial servicespromoter Smith & Williamson, but Evans noted, "We are working through ourown network of IFAs."
Baker Street was founded nine years ago and it has invested in 27films, mostly in the past five years. Its investments have included Ladies in Lavender, Valiant, On a Clear Day,My Summer of Love, and forthcoming titles Wilderness and Irresistible.