BERLIN — A consortium of German financial institutions, including the Dresdner Bank and Munich’s Reuschel Bank, have established a DM 170 million ($91 million) fund for toon makers.
Available later this year or in early 2000, the new Berlin Animation Fund will be accessible to various animation outfits.
Munich-based Greenlight Media, which is producing and distributing its new animated takeoff on the Grimm fairy tales, “Simsalagrimm,” will help coordinate projects that are financed through the fund.
This investment initiative is the latest in a series of private film funds that have seen millions of dollars from German investors flow into local and international productions.
Currently in the works is a tax-sheltered fund organized by Hannover Leasing to raise some $240 million, much of which is slated for production and marketing costs for Universal and Imagine Entertainment’s “Dr. Seuss’ How the Grinch Stole Christmas,” starring Jim Carrey.
Hannover Leasing is owned by the local state-run Hessischer Landesbank (50%), real estate investment group IVG (25%) and Hannover Leasing’s management (25%).
(Liza Foreman contributed to this report.)