In what could become an international rush ofcompanies to exploit new US tax incentives and the cheap dollar, theever-opportunistic UK-based financing outfit Spice Factory has teamed up withLA-based Cameo FJ Entertainment to create the American Independent Film Fund(AIFF).
The partners aim to exploit recent US tax incentivesand claim to have raised approximately $50m for their anticipated slate ofprojects.
Targeting projects of up to $15m each, AIFF willprovide GAP financing and bridge loans of up to 30% of a project's budget.
The remaining 70% will come from a combination ofpre-sales, US state tax incentives, and co-productions.
Freddy Braidy and Francesco Juilland's Cameo FJEntertainment is co-producing Werner Herzog's Rescue Dawnstarring Christian Bale and Steve Zahn and recently collaborated with PaulWalker's Blue Collar Productions on Bottoms Up starring ParisHilton.
Michael Cowan and Jason Piette's Spice Factory hasbacked myriad titles in the last five years through a combination of co-productionand tax funds. Among them were The Merchant Of Venice, The River King, and GuyX