LONDON — What credit crunch?
Aegis Film Fund, a debt-based source of coin for filmmakers, has launched in Blighty.
The fund, which will be advised by Aegis Capital Partners – a U.K.-based partnership among Prescience Film Fund, Chancery (U.K.) and financial execs Chris Smith and Colin Brumpton – has already identified its first project: helmer Mat Whitecross’ biopic of late British rocker Ian Dury, “Sex and Drugs and Rock and Roll.”
Aegis will provide various short and medium-term loans and debt, including discounting of governmental tax credits, pre-sales contracts, as well as gap and bridge funding.
Aegis is targeting a minimum return of 15% a year to its investors net of costs.
The fund has up to $50 million committed for this year and will be investing in projects in the $8 million-$25 million budget range.