New $22m film and TV fund in Sao Paulo
Spcine, a new fund for film and television, has now fully launched and is set to invest $22.3m over 2015. Its aim is to grow and develop the industry in Sao Paulo through its film commission, alternative screen park, innovative programmes and audience development schemes.
Now labelled as an equity investment fund, the new initiative announced its debut investments in film production at the Rio Content Festival, which have a total worth of $6.9m. For every 1% invested, Spcine is set to take a 0.8% equity investment in the funded project.
The company plan on helping to streamline the function of the film commission further by promoting the diverse Sao Paulo locations and by providing fast shoot licences so productions don’t have to wait for permits. The fund also wants to aid in supplying further technical courses in film and TV to promote and develop the home-grown workforce.
Spcine’s main aim is to make Sao Paulo an attractive prospect for filmmakers internationally. Brazil’s global success grew in 2015 through The Second Mother, a film produced by Sao Paulo-based Gullane Filmes which won at Sundance and Berlin. With the ball now rolling time will tell how much of an impact this new fund will make.