• Friday, December 08, 2023
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Capital Films launches N500 million fund, following Gangs of Lagos success

Capital Films launches N500 million fund, following Gangs of Lagos success

Capital Film Productions, a film financing firm, has launched a new N 500 million fund to invest in Nollywood movies.

Founded by Adim Isiakpona, a former Google employee, and Hamza Kassim, a business opportunity manager at Shell, the film firm launched “Act 3”, an N500 million fund, to invest in a lineup of Nollywood movies.

Both co-founders were executive producers of the Nollywood hits Gangs of Lagos and Brotherhood; Isiakpona was also an associate producer on Sugar Rush.

“Ultimately, our goal is to be that bridge that connects investors and storytellers, enabling the creation of truly remarkable & profitable films,” said Adim Isiakpona, co-founder and CEO of Capital Film Productions.

He added, “In a way, Capital Film 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 firsthand 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 USD 550,000 to fund six (6) films in 2024 only.”

According to Capital Film, the mission is to progressively build a $50M fund in a few years while strategically partnering with filmmakers on the continent to fund African movie projects.

It noted that the company has adopted a smart-cautious approach to building and managing the fund, applying a multi-year strategy to selections of filmmakers and the levels at which they invest in a given project.

Read also: Gangs Of Lagos review: Jade Osiberu is Queen of Nollywood action

“As we navigate the hurdles of growing a successful film fund, we will prioritize 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,” said Hamza Kassim, co-founder, Capital Film Productions.

Capital Film said it has also invested in the production of soon to be released — ‘The Party’, ‘Ada – Omo Daddy’, ‘The Other Side of The Bridge’ and four other films, committing a total of approximately $800,000, projected to hit strong double-digit returns at the end of the fund cycle.

“All of which is supported by a base of Nigerian investors aggregated over the period. This track record highlights the company’s approach to investment and ongoing commitment to supporting African storytelling talents,” the company said.