BFI launches Creative Content Fund
The BFI has launched the UK’s Creative Content Fund with a plan to raise £20m in a year in independent equity to back high-end shoots.
Calculus Capital and Stargrove Pictures will run the fund, with Stargrove primarily responsible for identifying companies suitable for investment.
The fund will take advantage of the UK government’s Enterprise Investment Scheme that offers generous tax breaks for investors working with companies considered high-risk.
Suitable production companies will probably have been set up within the last seven years and will have a slate of projects in various stages of development for various platforms.
Funding of up to £3m will be provided for each company to assist with overheads and continued project development.
“We will use our expertise to identify exciting new talent and our experience and contacts to help investee companies to grow, innovate and succeed,” said Stephen Fuss, chief executive of Stargrove.
“The fund will unleash investment in the UK’s creative industries and enable independent UK screen content companies to retain a greater financial interest in the intellectual property they create so they can capitalise on their projects and talent and grow their businesses further.”
This is the first time the BFI has become involved with the private sector in this way. Significantly, the fund also has the backing of HM Revenue & Customs.
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