Frankfurt-based IN-motion Group has launched a new private media fund to follow the five World Media Funds it has already initiated since 1998, and which have raised a total to date of $128.8m (Euro 148m) for film and television financing.
The latest fund - The First Global Motion Pictures Fonds (GMP) - is inviting private individuals to put up a minimum each of $21,700 (Euro 25,000) by the end of August towards a total volume of $13m (Euro 15m) for investment in internationally marketable features with budgets between $3.5m and $17.4m (Euro 4m - Euro 20m). Should GMP prove popular, the fund's volume could rise to $34.8m (Euro 40m).
Two projects already identified for investment by the fund include political thriller, Baker Street and wife-swapping drama Rain Falls
In addition to initiating the new fund, IN-motion will underwrite the Euro 15m for GMP and will serve as a production service company on the fund's behalf to handle the actual production, in line with German tax and copyright requirements. Furthermore, the investors' risks will be reduced by IN-motion's commitment to guarantee 93% of the films' production costs as payments made between 2002-2004.
In the past, IN-motion has provided financing for such films as Walt Becker's Van Wilder: Party Liaison, produced by Myriad Pictures and Tapestry Films and the Emmy-nominated TV miniseries Life With Judy Garland: Me And My Shadows