Legion M, a U.S.-based fan-owned entertainment company, announced on Thursday its seventh round of fundraising. The company reported that in a little over four years, it has secured more than $10 million from over 250,000 fan-based investors. Like its other rounds, the latest Regulation Crowdfunding (Reg CF) offering through Wefunder.
Founded in 2016, Legion M creates, develops, and markets film, games, and more. The company has partnered with top-tier Hollywood executives with the first projects expected to launch before the end of the year.
“We’re built from the ground up to be owned entirely by individual fans! With the help of the JOBS Act, we’re opening the gates of Hollywood and giving them a first-ever opportunity to own and participate in a production company. Our fan-investors help us select properties to invest in, and also suggest material for consideration. Once a project is selected, we keep our community updated by taking them behind the scenes and providing interviews with the production team. We also look for ways to involve Legion members directly in the project whenever possible.”
Speaking about the company’s growth and development, Paul Scanlan, Legion M’s Co-Founder and CEO, stated:
“As the nation begins to emerge from months of [COVID-19 pandemic] quarantine, it is so important for us to give back to our friends and allies in the entertainment community who need it most during these challenging times. We are thrilled to be implementing this new marketing model that shifts funds away from advertising and into the community, benefiting both our fans who receive the rewards and the industry at large.”
Legion M further noted that in addition to helping select, fund, and support its platform’s projects, investors are given exclusive behind the scenes access as Legion M develops and distributes film, TV, and virtual reality projects.
“In this seventh round, shareholders will get access to set visits, premieres, special events, and a shopping spree to the Legion M store along with COVID affected businesses.”
The latest funding round is set to close in September.
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