Newly-formed film production company Koralis Pictures is aiming to
raise up to £2.5m to finance three low-budget action thrillers from
Commando director Mark L Lester.
Film Fund One is the brainchild of former IFA Heath Jones, who
founded Koralis six months ago after meeting writer Bruce Fitzpatrick
in Los Angeles. Fitzpatrick had secured a film deal for his prison
novel, The Rules of the Game, when the company financing it went
down with the World Trade Center on September 11. Koralis Pictures
will take over the funding for this film along with at least two other
In the US, Jones was introduced to director Mark L Lester, whose
credits include Commando and Stephen King's Firestarter. Lester
directs films for sales and distribution company American World
Pictures and Film Fund One will draw on his industry contacts.
American World Pictures will then sell the film rights to entertainment
companies around the world through film festivals. This keeps costs
down as it is the third parties who buy the film rights who will be
responsible for future cinema releases. However, if a cinema release
becomes a box office hit Koralis and American World Pictures can
renegotiate the rights.
Some film-based investments are set up to finance just one film,
which they hope will be a box office hit. But this EIS has the
advantage of diversity so if one of the films is a commercial flop,
investors still have the chance to make money through the others.
Film Fund One's focus on making money through third party film
rights rather than box office takings means predicting public taste is
less of a problem. However, American World Pictures will need to
convince other companies that there will be a demand for action
thrillers which are unlikely to cast star names.