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Monday, June 17, 2024

Southbox Entertainment Raises $80M Fund for Film and TV Production – Deadline


exclusive: jon gosierSubsidiary Southbox Entertainment strikes $25 million partnership with sister company movie hedge And is raising another $55 million from private investors, of which $80 million in new funding will be used to approve film and TV projects.

The firm has also expanded its management team, with former ICM firm Chandler Heinz Laun as chief of staff and financial services veteran Jonathan Hecht as managing partner. The two are now also partners in the parent company, South Box Capital.

The funds are primarily for independent films with budgets of $5 million to $35 million. “The biggest check we can write is $20 million” for a project anywhere in the world, Gosier said. But the Georgia native is proud that the money came from the Peach State, where generous tax breaks have led to a boom in production.

“Everyone talks about a film being shot in Georgia. But where does the money come from? Almost always from LA, New York, London, somewhere else. We are one of the few who can afford to green light a film in Georgia with our own money One of the groups,” he told Deadline.

Gosier started working with one of them, Tyler PerryIn Perry’s first film as music director, Diary of a Crazy Black Woman (2005), and was one of the first employees of Tyler Perry Studios. He left the company to join the tech industry, co-founding the advertising platform Audigent, which was eventually acquired.

he initiated South Box Capital 2017 Seeks investment and launches companies, including FilmHedge, which provides senior debt financing for post-production. Gosier said the company has raised more than $100 million in funding for “films that are either already in production or about to go into production, have casts, have deals with streamers and distributors.” “. They have come a long way. “

Southbox Entertainment, an independent entity and currently primarily a production company, will be involved at an early stage. “Among the deals that FilmHedge rejected, some met most of the criteria we were looking for, but not all. We decided to set up an $80 million fund, and we’re raising money now, and it’s a little early. It’s the first Money. We can provide capital to help producers develop their talents, help them develop the necessary development before production. It just gives us a head start in terms of financing. It also gives some comfort to other investors who come.”

FilmHedge also offers line of credit partnerships with production companies, including engaging entertainment The group announced the news in Cannes last month. “There’s more to come,” Gosier said.


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