Texas-based Truth Entertainment has raised $25 million to finance and produce three to six independent films per year in the $5-15 million range, the first of which will be “Dallas Buyers Club” starring Matthew McConaughey.
Truth prexy-CEO Tony Notargiacomo and co-founder Joe Newcomb are partnering with Logan Levy (“Ain’t Them Bodies Saints”) and Holly Wiersma (“Factory Girl”) to develop, finance, and produce feature films across a variety of genres and platforms.
Funds come from private investors who will invest on a project-by-project basis once the Truth team identifies which movies it wants to produce. In addition to current offices in Texas and Louisiana, Truth plans to open a Los Angeles office early next year, and producers expect to lense productions in both the U.S. and Mexico.
Along with an active in-house development arm, Truth will package and also invest in outside projects. Company has already partnered with Voltage Pictures on its first film, Jean-Marc Vallee’s “Dallas Buyer’s Club,” starring McConaughey as an HIV-positive man. Voltage is handling international sales for the pic, which starts shooting Nov. 11.
Notargiacomo and Newcomb will exec produce “Dallas Buyer’s Club” under their Truth banner along with Levy and Wiersma. Voltage’s Nicolas Chartier and Zev Foreman will also exec produce with Cassian Elwes. Robbie Brenner and Rachel Winter are producing.
“We are very thrilled and honored to announce our first film ‘The Dallas Buyer’s Club.’ It is a fantastic script and we look forward to working with our fellow Texan Matthew McConaughey,” Truth toppers said in a joint statement.
