National Cinema Centre favoured shelters which put the accent on independent production, and first and second time features.
France’s National Cinema Centre (CNC) has approved 12 Sofica funds with a projected €63m production spend for 2012, the body has announced.
“The CNC’s evaluation was guided by a desire to support independent production,” the CNC said in a statement. It said 14 funds had applied for approval.
The Soficas have until Dec 31, to raise money from investors for use in 2012
Among the approved shelters are two new funds B Media Export and B Media Kids, run-by B Media Management – a newly-launched off-shoot of BackUp Films.
BackUp co-founder David Atlan Jackson said the company had decided to separate its film financing activities from its tax shelter operations.
Under the move, Atlan-Jackson will assess projects looking to tap into the fund, while co-partner Joel Thibout will focus on managing the shelter. Third co-founding partner Jean-Baptiste Babin will concentrate on film finance and packing under the BackUp Films banner.
The new funds essentially replace BackUp’s previous shelters. B Media kids, picks up from their animation focused Cofanim, but unlike its predecessor will be also open to children’s fiction.
B Media Export, aimed at gap-financing for film productions with foreign potential, is a new version of its Coficup fund which did not get CNC approval in 2011. Both funds have been authorised to raise up to €4.0m each
The approved shelters also included a new fund aimed at first and second films called the Indefilms.
The shelter was set up by film financier Camille Gentet and Pierre Guyard, head of development at Nord Ouest Films. The fund, which is allowed to raise up to €4.0m, will invest some 25% in independent productions, with a budget less than €8m