Screenvest aims to raise $250 million over four years
LONDON — What’s being touted as the first production fund for the international TV market is being launched in Germany.
Jan Korbelin, the former programming prexy of German channel ProSieben, and ex-Gaumont Intl. exec Marla Ginsburg are linking up with ex-Credit Lyonnais exec Sven Clement on the fund, which is aiming to raise 125 million euros ($112 million) through 2002 and up to $250 million over the next four years.
Dedicated to the financing, production and worldwide distribution of TV product, the new company, Screenvest, will work in close combination with Vertikal Entertainment, Korbelin and Ginsburg’s production entity.
Vertikal is developing several projects with partners including USA Networks, Turner Network Television, Tribune and Paramount.
The Munich-based fund, which will tap into the lucrative German tax-shelter market for its equity, will concentrate on telepics, miniseries and potential series.
“This is really the first international television-oriented fund,” Korbelin told Daily Variety. “There has been a lot of concentration on the film funds, but it makes sense to serve the TV market, and it’s something that is slowly being discovered in the funds market.”
Screenvest, which was set up by Korbelin and Clement, is also in negotiations with various other production partners.
Clement previously occupied a senior exec post in the Credit Lyonnais Group. Ginsburg’s previous credits include the TV series “Highlander.” Korbelin was both programming prexy for ProSieben and president of entertainment.