Capital Film Productions (CFP), a film finance company, has announced the official opening of its $50 million fund to invest in African films.
The film investment firm was founded by Adim Isiakpona, a former Intel, HP, and Google employee, and Hamza Kassim, a business opportunity manager at Shell. Its objective is to develop a $50 million fund to invest in African filmmakers.
Both co-founders were executive producers on the Nollywood hits Gangs of Lagos and Brotherhood, with Isiakpona also serving as 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 goal is to gradually establish a $50 million fund over a few years while selectively engaging with African filmmakers to fund African film projects.
It stated that the corporation has taken a prudent and prudent approach to establishing and administering the fund, employing a multi-year strategy in selecting filmmakers and the amounts at which they spend in a given project.
“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 Productions also announced that it has committed $800,000 to the development of upcoming films ‘The Party,’ ‘Ada – Omo Daddy,’ ‘The Other Side of The Bridge,’ and four more, with high double-digit returns expected at the end of the fund cycle.