Colombia's Dynamo to Launch Production Fund
Financing taps into recently established rebates.
BOGOTA -- Colombian shingle Dynamo is structuring a new production fund that will finance up to a half-dozen feature films a year.
Dynamo CEO Andres Calderon said the fund will front producers a 40 percent rebate on production services, providing the project qualifies for Colombia's recently established filming incentives, which aim to draw foreign shoots.
Dynamo Capital, the producer's investment arm, will provide the money upfront and recoup the rebate after production wraps, allowing producers more cash flow during the production phase.
Bogota-based Dynamo has financed and co-produced such films as Sundance audience award-winner Undertow, and it recently produced Out of the Dark with Participant Media, a thriller starring Julia Stiles and Scott Speedman. Out of the Dark is Dynamo's first English-language pic.
Production begins in August on El Elefante Desaparecido, a psychological thriller from Undertow director Javier Fuentes-Leon.
Additionally, Dynamo is producing four documentaries this year for the Discovery Channel.