Montreal distributor pacts with venture companies
Montreal-based distrib Remstar, venture capital fund Solidarity Fund QFL and private equity manager Caisse de depot et placement du Quebec have pacted to form Remstar Media Partners.
Venture will acquire distribution rights to 25 movies over the next five years. The amounts the three partners are investing in Remstar Media Partners were undisclosed.
“We believe there are tremendous growth opportunities in the Canadian film industry,” said RMP prexy Maxime Remillard. “With this new vehicle, we plan to significantly increase our Canadian and international presence by assisting producers in financing, distributing and promoting their movies.”
Remstar Corp., the parent company of RMP, has collaborated in the production and distribution of a number of pics, including “Battle in Seattle.” That film, directed by Stuart Townsend and starring Charlize Theron, Woody Harrelson and Martin Henderson, is set for a limited release in March.
Solidarity Fund QFL controls net assets of more than $7.2 billion and focuses on growing Quebec’s economy, while Caisse de depot et placement du Quebec manages public and private pension and insurance plans worth C$143.5 billion ($154.5 billion).