On October 27th, Indie Crowd Funder announced the launch of a $50 million “Horror Fund”. Under Reg A+ (Title IV of the JOBS Act), Indie Crowd Funder may “test the waters” for investor interest prior to actually selling securities thus saving time and money. As of today, the Raven Fund I, as it has beel labeled, is doing really well.
It has taken less than a week for Indie Crowd Funder to generate over $15 million of indicated interest and, if this momentum holds, should have no problem in hitting their goal. Now indications of interest are not binding but they can be a fair measure of investor intent.
— Raven Fund I (@ravenfund1) November 3, 2016
Gregory Parker co-founder of Indie Crowd Funder said recently;
“We’re very excited about this fund and its participants; each of which have raised millions, or produced horror projects that have grossed hundreds of millions of dollars worldwide. Now we are looking to replicate that success and allow the general public to partake.”
This “umbrella fund”, headquartered in Los Angeles, plans on producing, managing and investing in a diversified portfolio of horror genre entertainment investments. Each investment is expected to be between $1 and $5 million dollars. Horror films happen to be a genre of film that doesn’t drive too many mega-hits but has a reputation of driving a lot of revenue over the years. Those scary movies can be the type of investment that keeps on giving. As the SEC filing explains;
“The horror genre is now concept driven and often does not need major acting star talent, which keeps budgets ultra-low and profit potential high. The examples listed below display several horror films budget and the profits associated with each, which can potentially be as much as twenty or more times its budget.”
Indie Crowd Funder also intends on listing shares soon after an offer is completed. Their “clear exit strategy” is to list on an OTC marketplace given a successful funding round.
According to the platform, a solid group of industry professionals have signed up to help with the project, including: Daniel Myrick (DGA/WGA) Director, Writer, Producer (The Blair Witch Project), Shintaro Shimosawa, (DGA) Director, Writer, Producer (The Grudge, The Grudge 2), Randy Greenberg, Executive Producer (Cowboys & Aliens, Meg), Autumn Bailey-Ford (PGA).
If you are looking for more information on the Raven 1 Fund I suggest you review the offering circular as it provides all the information demanded by the SEC. According to the current version, the Fund is a go if they hit at least $2 million.
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