Financier expands with partners
producers of up to 20% of a pic’s budget and aims to generate annual returns for investors of between 3% to 12%. Fund will start investing this summer. Hindsight, combined with Prescience’s other funds such as Aegis Film Fund and Century Media Capital, will enable Prescience to provide a mix of debt and mezzanine totally between 70% and 100% of budgets. Additionally, the financier, which has recently backed Olivia Wilde and Sam Rockwell starrer “Better Living Through Chemistry,” has joined forces with Scottish investment management company Braveheart Investment Group to launch Caledonia Specialist Finance. Fund, also for development and production for U.K. producers, has a first-year capacity of $16 million. It will provide development finance of up to $159,670 per project in addition to permanent finance on a pic.