The Frankfurt-based IN-motion Group is behind the launching of a second private media fund to follow its Euros 15m first Global Motion Pictures Fonds (GMPF) which was brought on to the market in July.
The Second Global Motion Pictures Fonds (GMPF 2) will be inviting private individuals to put up a minimum each of Euros 25,000 by December 12, 2001 towards a total volume of Euro 40m for investment in international feature productions, with the option of increasing the fund's overall volume to Euro 150m.
GMPF 2 plans to channel financing into the New York comedy Jiggly (working title) and the moral drama Shoot The Moon (working title).
In addition to initiating this second fund, IN-motion also serves as a production service company for the projects on the fund's behalf and has committed as the licensor of the film rights to pay a minimum guarantee of approximately 92% of the production costs to GMPF 2.
With the placement of the first GMPF fund now complete, production has begun on the two projects selected for investment: political thriller Baker Street and the wife-swapping drama Rain Falls.
The two GMPF funds are the latest in a line of media funds initiated by IN-motion since 1998 which raised Euros 148m for investment in projects like Walt Becker's Van Wilder: Party Liaison and the five-time Emmy-winning TV miniseries Life With Judy Garland: Me And My Shadows.