UK distributor Kaleidoscope has revealed major new investment from Schneider Media Investments (SMI).
SMI has committed to a “significant funding package”, in return for a minority stake in the business.
The investment from SMI will be available immediately and Kaleidoscope will seek to broaden its acquisition strategy into more commercial genre feature films, higher profile television and theatrical documentaries and global production, sales, distribution and investment opportunities.
Spencer Pollard, CEO of Kaleidoscope said: “I am thrilled to have brought SMI in as partners to help continue Kaleidoscope’s growth. Over the last five years we have been very much an organic business and continued to try to innovate and buck market trends.
“We have had various proposals to discuss over the last few months, which hopefully was a sign of the good work we have been doing but we felt 100% that SMI were the right people to go into business with.”
SMI is headed by city executive Sonny Schneider of the Schneider Group, founded in 1996, focusing on trading, broking, debt finance and early stage venture capital.
Schneider added: “We believe that this bringing together of our knowledge and abilities in financing with Kaleidoscope’s considerable expertise in the selection, promotion, sales and distribution of quality films and related content will result in an exciting and bright future for both parties.”
Kaleidoscope launched in Nov 2008 and comprises Kaleidoscope Home Entertainment (UK distribution), Kaleidoscope Film Distribution (international distribution and production) and Kaleidoscope Entertainment (UK Theatrical).
KHE has released more than 250 titles include Joss Whedon’s Much Ado About Nothing, The Reluctant Fundamentalist and Lords of London. More recent titles include the Miranda Hart comedy feature 12 In A Box; Second World War action feature Battle For The Skies; horror-thriller The Seasoning House; and kids live action feature, Robosapien.
Kaleidoscope is the second strategic partnership investment SMI has made to date, following last year’s deal with London post-production and financing house Creativity Media.