$200 million film fund
AMBI Group will remake independent movies
Art & Experience: AMBI Group has launched a $200 million film fund to finance a slate of high-end, star-driven commercial feature films.
Monika Bacardi and Andrea Iervolino are the anchor investors in the fund, along with New York-based private equity firm Raven Capital Management LLC. AMBI will use the $200 million to fully finance five movies in the mid-budget range of $25 million to $30 million and at least 10 smaller movies of under $10 million each.
AMBI and Raven will also continue to co-finance projects with various studio and independent partners outside of the fund.
AMBI bought the 400-title Exclusive Media Group film library last month, which includes “Begin Again,” “Cruel Intentions,” “Donnie Darko,” “End of Watch,” “Memento,” “The Mexican,” “Parkland” and “Rush.” That deal includes sequel and remake rights.
AMBI’s film slate includes James Franco’s “In Dubious Battle,” featuring Nat Wolff, Selena Gomez, Vincent D’Onofrio, Robert Duvall, Ed Harris and Bryan Cranston; the CGI family animated film “Arctic Justice: Thunder Squad,” featuring the voices of John Cleese, Alec Baldwin, James Franco, Angelica Huston and Heidi Klum; “Septembers of Shiraz,” starring Salma Hayek and Adrien Brody; and the contemporary fairy tale “This Beautiful Fantastic,” starring Jessica Brown Findlay and Tom Wilkinson.
It recently completed sales at the American Film Market on the romantic comedy “All Roads Lead to Rome,” starring Sarah Jessica Parker.
“Our mission remains to build a strong global studio with an expansive value chain,” said Andrea Iervolino. “The acquisition of the Exclusive Media Group library plays into our formula for building the AMBI brand by instantly giving us hundreds of titles across multiple genres that will have long lives with audiences who, with today’s technology, consume content more rapidly than ever before. Content remains king in the film world and today, with this acquisition, we took a major step in building our kingdom.”
“We are extremely pleased in the value this deal creates for AMBI,” added Monika Bacardi. “Not only do we have a new library featuring some of the most revered films of the last few decades, but we have also inherited some phenomenal projects already in development that we feel can be great productions for AMBI Pictures in the near future. We will of course carefully vet out the sequel and remake opportunities and determine what fits best with our creative strategies and financing/production model to make sure everything is in proper alignment.”
“AMBI is a company with steadfast ambitions to grow into one of the leading financiers and producers of movies across the studio and independent landscapes,” Iervolino said. “This fund provides additional capital necessary to source the best projects and material and collaborate with various partners around the world to build a very compelling slate.”