DCR Finance Corp Launches $100M Film Fund With ‘The Last Full Measure’ First On Its List
April 30, 2019 3:22pm
EXCLUSIVE: DCR Finance Corp has launched a a $100 million film and media fund that will be used to finance small to midsize films across Europe and the U.S., with the goal to help filmmakers complete their movies and land distribution.
The first pic to receive funds will be Roadside Attractions’ The Last Full Measure, the upcoming Todd Robinson Vietnam War drama based on a true story and starring Sebastian Stan. DCR will invest in the P&A for the pic, which has an October 25 release date after Roadside acquired the film in Toronto.
The film is produced by Foresight Unlimited chairman Mark Damon, who will now join the DCR board along with producer Jordi Rediu. DCR Finance Corp, a New York- and Los Angeles-based media finance firm that specializes in equity investments and entertainment funding, was founded by venture capitalist Adi Cohen, who also a producer on Last Full Measure. Foresight handled international sales on the pic.
In addition to financing, the DCR fun aims to dedicate 20% of all money raised to selected film festivals and film schools. At launch, $5 million will be gifted to the Jerusalem Sam Spiegel International Film Lab.
“After a half-century of producing and distributing films, I felt it incumbent upon myself to dedicate time to guide and support the talents of aspiring filmmakers,” said Damon, whose long list of credits include Monster, Lone Survivor and The NeverEnding Story. “I am pleased and honored to have been offered such a worthwhile opportunity to manage a fund that aims to assist producers to realize their aspirations.”
DCR said placement will be managed by Razwana Akram and Simon Goldberg of London’s Simons Muirhead & Burton. Coutts of London will handle all finances.
Jerusalem Sam Spiegel Film Lab and DCR Finance Corp launch $5m fund
BY BEN DALTON13 FEBRUARY 2019
The Jerusalem Sam Spiegel International Film Lab (JSFL) and US-based DCR Finance Corp have launched a $5m fund for projects over the next five years.
The DCR Fund for Excellence in Films will award three prizes totalling around $500,000 to both pitched and work-in-progress project during the JSFL every July. These will be comprised of 80% investments and 20% grants.
Two prizes will be awarded via an international jury to works in progress and a further prize will be presented to a project in development. The Fund said the amount invested in a project will depend on its budget and it is possible it will invest much more than $500,000 in total each year.
Although $5m has been earmarked for a five-year period, the Fund explained it would top up this amount if it invests $5m before that. It plans to automatically renew the Fund after five years.
The fund is a partnership between the JSFL, DCR Finance Corp, and studios and post-production facilities in Barcelona, London and Los Angeles. DCR Finance Corp was formed by producers Mark Damon and Jordi Rediu and New York financier Adi Cohen.
The project was initiated and will be led by Renen Schorr, the founding director of the Jerusalem Sam Spiegel Film School. “This partnership hastens and propels both pitched projects and work-in-progress films that must be made and finished urgently,” said Schoor.
The fund has granted its first award to work-in-progress title Shooting My Father, by Israeli director Dani Rosenberg and producer Stav Meron of Pardes Films.
Previous films to have come through the JSFL include Nadav Lapid’s Cannes 2014 hit The Kindergarten Teacher, and Lázló Nemes’ 2016 best foreign language Oscar winner Son Of Saul.
The eighth edition of the Lab will take place this year from July 4-8, 2019.