Singapore’s Media Development Authority (MDA) is launching a $50m film fund in partnership with Korea’s CJ Entertainment, production company Bang Singapore and Singapore-based Asia Media & Technology Capital (AMTC).
The fund will back a slate of international films, to be primarily sourced and produced by CJ, that is expected to generate a significant volume of work for Singaporean talent and film companies.
MDA has previously launched financing initiatives with several companies from the private sector including a film fund with Hong Kong’s Salon Films and a strategic alliance with Imagenation Abu Dhabi and US-based Hyde Park Entertainment.
“We are excited about the deal that bridges an established Singapore production company with a private Singapore media fund and a blue-chip Korean film company to build a pipeline of commercial film projects,” said MDA’s recently appointed CEO Aubeck Kam.
The MDA also announced funding for two projects under its International Film Fund (IFF) - 3D thriller-horror The Harvest and foodie drama Cooktales (working title).
The Harvest, about the misadventures of a group of backpackers, will be produced by Singapore’s Blackmagic Design Films and Australia’s Goalpost Pictures. Cooktales, to be directed by Korean filmmaker Gina Kim (Never Forever), is a co-production between Bang and CJ.
Bang and CJ are also collaborating on the first project to emerge from the IFF - Neon Sign to be directed by Korea’s Pil Gam-sung, which was announced at AFM last year.
Founded by Peter Tan, AMTC invests in high-growth digital media and technology companies across Asia.