Capital Film raising $50m movie fund
Nigerian film investment firm Capital Film Productions (Gangs of Lagos, Brotherhood) has launched a US$50m fund to support the African film industry.
The company was co-founded by Adim Isiakpona and Hamza Kassim and is aimed at democratising movie investment and providing funding to promising filmmakers, enabling them to produce high-quality films that shine a global spotlight on Africa’s film industry.
Former Google and Intel exec Isiakpona said: “In a way, Capital Film Productions is a dream come true for us. It all started off as a scrappy idea with our ‘first act,’ raising funds from our personal finances to support film projects, to a second act that saw us managing Liquidity Provider’s funds. From these experiences, we’ve seen first-hand how access to adequate funding and support can uplift the entire production of a film, and potentially the industry.
“Our third act is already in full swing, and we are raising approximately US$550,000 to fund six films in 2024. Ultimately, our goal is to be that bridge that connects investors and storytellers, enabling the creation of truly remarkable and profitable films.”
“As we navigate the hurdles of growing a successful film fund, we will prioritise collaborations supporting the industry’s growth to elevate African films to more global relevance. We welcome everyone to join us in this cinematic journey as we build an ecosystem where everyone benefits,” added former KPMG exec Kassim, who also exec produced dramas Gangs of Lagos and Brotherhood.
As well as Brotherhood and Gangs of Lagos, Capital Film Productions has invested in and supported upcoming movies The Party, Ada Omo Daddy and The Other Side of the Bridge to the tune of about US$800,000, and expects strong double-digit returns at the end of the fund cycle.
According to the company, its mission is to progressively build a US$50m fund over a few years while strategically partnering with filmmakers to fund African movies.