Independent producers’ rep John Pierson, in association with Island World, has created a $5 million fund designed to help filmmakers finish independent feature films.
The New York Completion Fund will provide financial support to filmers who have completed principal photography on their independent features in return for equity investments.
There is no minimum number of projects over the next two years, but Pierson says $500,000 generally will be the maximum investment in any one film.
The Island World company was formed recently through the merger of the film interests of record entrepreneur Chris Blackwell and international film financier John Heyman. The $5 million fund was created in a blind pool.
Pierson stressed that the New York Completion Fund is not handing out loans but is looking to invest in low-budget, films.