Investitionsbank Berlin (IBB) has become the latest German bank to get involved in Germany's private media fund sector by investing DM30m ($15.4m) in the DM168m ($86m) Berlin Animation Film (BAF) fund, launched at the end of last year by London-based Kleinwort Benson.
Kleinwort Benson, part of the Dresdner Bank Group, reports that the planned first tranche of DM34m ($17.5m) was substantially over-subscribed after just two weeks in the market in December. A second tranche of DM104m ($53.5m) will be raised from private individuals during 2000.
BAF, whose shareholders include Kleinwort Benson with 49%, Greenlight Media with 25%, and strategic partners such as Europool Europaische Medienbeteiligungs, Super RTL and BMG Ariola Miller, intends to invest in one feature film - the DM43.65m ($22.5m) Simsalagrimm - Lisa And The Magician - and seven animation series: Tooth Fairies, Altair, The @venturers, Meadowlands, Jamaica Beach, Geschichte Aus Dem Grossen Wald and Acariens.
The series, whose budgets including P&A range from DM11.2m ($5.8m) to DM22.3m ($11.5m), will be co-produced with leading German animation studios such as Hahn Film, Das Werk/Trixter, ASL Animationsstudio Ludewig and Oniria.