The fall 2014 edition will include individual Skype consultations taking place between early October and early November followed by a workshop on financing strategies and an equity investor pitching event taking place over four days in late November/early December hosted by the Investitionsbank Berlin. Tutors will work with producers to understand the investment criteria and deal terms of various types of equity investors including individual business angels, business angel funds, venture capital financiers, gap equity funds, and post-production equity investors, helping producers to develop strategies for pitching to these investors.
FNE spoke with Closing The Gap program director Marc Robert about the session and about equity investment in the industry.
FNE: Why is it important for Central and Eastern European producers to look for equity investment?
Marc Robert: In the current financial climate, it's vital for producers to discover new sources of financing. But more than that, the level of subsidy funding available in most Central and Eastern European countries is comparatively low. Incorporating equity financing into their budgets would not only allow Central and Eastern European producers to increase the quality of their films, it would also be a good test of the international potential of their projects, which equity investor criteria measure. Pitching to investors, networking with investors, and gaining insight into the investors' perspectives on their films would assist these producers in shaping the overall strategies for their projects.
FNE: What are the different types of equity funds?
Marc Robert: Closing The Gap invites a range of equity investors to its pitching session: representatives of individual business angels, managers of business angel funds, venture capital financiers, post-production equity providers, gap equity fund managers, etc. Not only does the program introduce the selected producers to these investors, it also works with the producers to understand the differences between these types of investors. Not all equity money is the same, and not all types of equity fit into the financing plan of a given project. We focus on pinpointing which of these types fit best for an individual producer's film and then work with the producers to understand the investment criteria and deal terms of the right investors for them.
FNE: What does Closing The Gap offer to producers from Central and Eastern Europe?
Marc Robert: At the EU level, one of the main aims is to support audience building and an increase in cross-border distribution of projects, which is an aim shared by equity investors and so is also at the core of Closing The Gap. But why is this relevant for Central and Eastern European producers? Because producers from these areas of Europe, while they currently receive increased support for their projects from the EU, still need to find additional sources of financing to connect with and survive in the international market. Closing The Gap provides them with an opportunity to build more international connections, both with the equity investors (who come from all over Europe and who can invest across borders) and with the other producers taking part in the program. Tracking the results of past editions of Closing The Gap, we have seen Central and Eastern European producers receive financing for their projects as well as find service production clients and strong co-producing partners.
Contact:
Marc Robert
peacefulfish
Berlin – London – Brussels
T +49 30 488 288 565
F +49 30 690 883 63
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www.closing-the-gap.net
