Japanese production shingle Entertainment Farm plans to launch a film investment fund, located in Singapore, to raise $30 million to $50 million.
Fund will begin seeking coin from Asian investors over the next three months to invest in a slate of movies produced in Asia and the U.S.
Announcement coincided with the bow of Entertainment Farm’s “The Princess of Nebraska,” by Wayne Wang, which opens the Singapore Film Festival today. Fest runs through April 14.
Fund will be introducedto investors through a new Singapore-registered unit, Entertainment Farm Pte., with projects brought to it by Entertainment Farm’s managing director of international, Yukie Kito, and greenlighted by Entertainment Farm topper Yasushi Kotani.
“We will target Asian projects by internationally acclaimed directors with international appeal, such ‘The Namesake’ and ‘A Thousand Years of Good Prayers,’ ” Kito said.
Fund allows company to fully finance smaller films or take minority stakes in larger projects costing up to $10 million. It is expected to be fully disbursed within two years and have a minimum five-year life.
“We expect to target a limited number of institutional, financial, corporate and private investors. There will be no debt component or leverage. It is all equity,” said Yano Satoru, director of Entertainment Farm Pte. “This is a new way of working for a Japanese company, and we are keeping the amount raised modest as we want to raise it quickly — we have projects waiting for finance.”
Fund is already eyeing an untitled project to be helmed by Iris Yamashita (“Letters From Iwo Jima”) and a drama set in San Francisco by Japanese helmer Kiyoshi Kurosawa.