Firm run by ex-Google, Shell employees launches $500k movie fund
Capital Film Productions, a film financing company established by Adim Isiakpona and Hamza Kassim, has launched Act 3, a ₦500 million (~$500,000) fund dedicated to investing in a selection of Nigerian-made movies. Both co-founders previously served as executive producers for Nollywood hits like Gangs of Lagos and Brotherhood, with Isiakpona also holding the role of associate producer on Sugar Rush.
Over the past three years, Capital Films successfully raised $800,000 through two funds to support the production of seven films, reporting a 37% cumulative return on these investments. The company aggregates funds from retail investors, with a minimum investment threshold of ₦10 million. Capital Films commits a minimum of ₦50 million and up to ₦100 million to each film project.
The company selects its movie investments based on an assessment of the filmmaker's track record and business model. The average budget per movie varies depending on the specific project and story. Typically, the investment return cycle is around 24 months.
Points clés à retenir
Africa's creative industries, while currently generating approximately $4.2 billion in annual revenue, have a limited presence in the global market, contributing just 2.9% to creative goods exports and less than 1% to Africa's GDP. However, there's immense growth potential in the continent's digital economy, with projections suggesting it could expand six-fold to surpass $700 billion by 2050. Specifically, the film and audiovisual sectors in Africa have the capacity to create 20 million jobs and generate $20 billion in annual revenue. This untapped potential presents a significant opportunity for driving economic growth and improving job opportunities, particularly for the youth and women, who can play pivotal roles in advancing Africa's creative industries and digital economy. Additionally, Sony's recent launch of the Sony Innovation Fund: Africa (SIF: AF) further signifies a commitment to supporting the growth of entertainment businesses across the continent.
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