Darby Angel’s finance and production outfit Angel World Entertainment and Glenn Myles’ merchant bank First Wall Street (FWS) are launching a $150m equity fund dedicated to independent productions.
Darby Angel’s finance and production outfit Angel World Entertainment and Glenn Myles’ merchant bank First Wall Street (FWS) are launching a $150m equity fund dedicated to independent productions.
Angel is in Cannes discussing the fund with industry. Projects will be in the $5-30m range and are due to be announced in the coming weeks.
Myles previously oversaw investments and capital holdings as executive vice president for former 20 Century Fox owner Marvin Davis’ Davis Corporation, encompassing Davis Real Estate, Davis Petroleum and Davis Entertainment. AWE is currently involved in film financing through its debt fund.
AWE founder and CEO Darby Angel said: “We’re thrilled to bring a new solution to the international film market to provide support to independent producers, while also protecting the investors whose risks and returns we take very seriously.”
FWS founder, chairman and CEO Glenn Myles said: “We’ve seen a need in the market for a finance structure allowing for the equity investor to sit in the first position. We have found the perfect partner in AWE as we share the same passion for structure and due diligence.”
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