Footprint said it would offer a targeted net return on capital of 21% and above per year, with the high rate of return coming from 'rigorous asset managemetn techniques, not hitherto adpoted by other funds active in the film finance arena.'
Footprint is working with Thesis Asset Management and has also recruited as a director Martin McCourt, previously head of film finance at the Bank Of Ireland.
The fund is set up as a five-year, close-ended, UK-based fund that will act as something of a 'boutique bank,' offering gap finance, mezzanine funding, discounted pre-sales and tax credits as well as bridge funding.
The fund will work on films of budgets up to $20m and anticipates $150m worth of deals during its first three years.
In addition to McCourt, the investment committee includes Lisa Lambert (veteran of Andersen Consulting and Platform Entertainment), and Route Group managing director Mark Worrall.
Footprint is also notable because it aims to be the first film fund to trade on a carbon neutral baiss.