Spanish company Markab Creativos is using theBerlinale as a platform to present its landmark new Euros 30m fund offeringmyriad facilities to film and television producers.
Under the banner Markab Finances, the company has set up thefund with backing from an as-yet unannounced global group of investors relatedto the film industry and advised by investment bank GBS Finanzas.
Facilities include discounting producer contracts; bringingdevelopment, production and p&a financing to projects, including gap financingon projects with 70% of their budget guaranteed; and helping negotiateinternational co-production deals.
Separately through an agreement with risk and insurancesevices group Marsh Inc., Markab Completion will provide completion bonds, apractice rare in Spain, on films with a minimum budget of a notably low Euros1.5m.
"People are always complaining there is no privateinvestment in Spanish cinema," says Markab founder Vicente Mora. "But privateinvestors need assurances, such as that the project will finish on time andwithin budget. A completion bond is essential to attracting private investmentas well as international co-producers and pre-sales."
Since unveiling the services in Madrid on Tuesday, Mora saysMarkab has already received applications from projects ranging from Euros 1.5mfeatures to "very big-budgeted" films, which the company's 12-person advisoryboard will study on a project-by-project basis. Markab may enter some projectsas a co-producer, part of its plans to ultimately forge an integratedstudiooperation based out of Spain.
Mora will present Markab in Berlin with GBS vice presidentJavier Herrero and Marsh executive Maria Martin.