Farm film fund set, $30 mil-$50 mil
EmptySINGAPORE -- Tokyo-based financing and production company Entertainment Farm announced Thursday it will invest U.S.$30 million-$50 million it hopes to raise from its Singapore satellite office to finance films in the Americas and Asia.
Entertainment Farm, Pte Ltd, a Singapore-based company established by the Tokyo parent last December, will be in charge of putting the funds raised into 10 to 15 films over the next two to three years, primarily co-productions.
A spokeswoman said the company chose Singapore over Japan for the new fund because of the tax breaks given by the local government to foster growth in the media and entertainment industries.
Since its inception in 2003, Entertainment Farm has been involved in both Japanese film production and overseas co-productions, most recently with Wayne Wang's "The Princess of Nebraska," which opens the Singaapore International Film Festival on Friday.
The company also has backed Kiyoshi Kurosawa's "Tokyo Sonara," currently in post-production. and this year, is co-funding "The Limits of Control," director Jim Jarmusch's latest project with Focus Features, whose shooting is now underway in Madrid, Spain.