UK tax-based film investment company Factor 8 Films has re-launched as the Future Film Group, which expects to generate $40m (£25m) in risk money to invest in British features.
The $40m is in addition to the benefits Factor 8 raises through its tax funds over the next two years, according to Tim Levy, who co-heads the company with Stephen Margolis.
Factor 8 has raised $255 (£160m) for tax-based investment in UK films through the government's 100% first-year tax write-off available for production and acquisition. More than 30 films have benefited from the investment including John Boorman's The General, Richard Attenborough's Grey Owl and Stephan Elliott's Eye Of The Beholder.
'Future Film Group is the first move that we are making to expand our interests away from tax-driven investment in order to create mutually-beneficial opportunities for both our investors and the UK film industry,' said Margolis.