Participant Media has launched a development and co-financing initiative with Mexico’s Canana, Chile’s Fabula and Colombia’s Dynamo.
Under the five-year deal Participant PanAmerica will put coveted US equity to work in the Latin American market and generate 10-12 Spanish-language films a year for and from the region.
Participant recently co-financed Canana’s Chavez and Fabula’s Oscar-nominated No starring Gael Garcia Bernal [pictured] and is in talks with Dynamo to finance the supernatural thriller Aguas Rojas, a co-production with Spain’s Apaches.
Participant CEO Jim Berk announced the news on Thursday  with Canana partner Pablo Cruz and partner and CEO Julian Levin, Fabula partner Juan de Dios Larrain and Dynamo partner and producer Cristian Conti.
Participant’s evp of narrative production Jonathan King will lead the initiative. Berk told Screendaily that a number of projects were already in development and would most likely be announced in the coming months.US and international sales will be handled on a case-by-case basis and there are no overarching budget parameters.
“We are going to be very fast-moving,” said Berk. “This is a new entity that has properties in the pipeline. You have got to have local partners. They understand the local market, distribution and financing. There are very significant subsidies in these markets and that’s what makes this so appealing to us.”
“Knowing our partners well and the mutual respect we have for each other make this opportunity unique for the Latin American production landscape, we are very proud and honoured to be working with very good friends and incredible partners,” said Cruz.
“Outside of the studios Latin American films rarely have the opportunity to access this kind of equity and US participation,” added Levin. “Having creative partners on board, such as Participant, Fabula and Dynamo, who understand the nature and demands of Latin American cinema is truly invaluable. We could not be happier to start this new relationship with them.”
“To work with professionals that one admires and respects, such as Canana, Dynamo, and Participant Media, is an true honor for us,” said Larrain. “The voice of Latin America is growing stronger and stronger in the world of film. Through this association, our aspiration is to go even further, and these are the best travelling companions that we could have ever hoped for.”
“For Dynamo this alliance presents a superb framework to create, improve and bring to life our projects,” said Conti. “We look forward to growing with and learning from great partners and friends like Canana, Fabula and Participant.”
“We feel that this is the start of a powerful alliance that could spell the start of a LatAm studio-like framework,” added Dynamo partner Andres Calderon.