The government of Catalonia, Spain’s richest region, will launch Mesfilms Inversions, a E6 million ($7.5 million) investment fund aimed at co-producing films with international potential.
It will target mid-to-high range pics by Spanish standards, budgeted north of $3.1 million, from Catalonia-based companies. Coin can reach $750,000 per movie but never more than the local producer’s own investment. Films can be in any language.
Mesfilms will counter the limited state and tax coin available in Spain for bigger-budgeted pics.
The central ICAA subsidy fund caps incentives at $1.25 million per film. Spain lacks significant tax breaks.
Launching by year’s end, Mesfilms is bankrolled by Catalonia’s powerful public film entities: the ICIC Catalan Institute of Cultural Industries, pubcaster TVC and the Catalan Finance Institute.