XYZ Teams With Finland-Based VC Fund On $100m Genre Film Slate Fund
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XYZ Films and Finland-based venture capital firm IPR.VC have joined forces on a $100m fund that will be utilized to back a slate of genre pictures.
The money, which the VC outfit is providing, will fund 15-20 features and will focus on filmmaker-driven independent genre fare. It gives XYZ more muscle to fully-finance in-house.
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The move is the latest in a busy year for XYZ, with the company having also established a talent management division with the hiring of former Universal & ICM Exec Peter Van Steemburg in June. XYZ also hired Tatyana Joffe as its President of International Sales & Distribution back in January.
“Our model has always been making responsibly-budgeted films from filmmakers we want to support. With funding from IPR, we can now be a one-stop shop for production, distribution and financing,” said XYZ partners Nate Bolotin, Nick Spicer, and Aram Tertzakian.
The deal was negotiated by Maxime Cottray for XYZ Films and by Elisa Alvares for IPR.VC.
“XYZ’s bold vision and talent-focused approach make them the perfect partner to launch IPR.VC’s second M&E fund. We look forward to our continued collaboration with XYZ’s outstanding team to create another successful venture for our investors,” says Timo Argillander, Managing Partner of IPR.VC.
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