EXCLUSIVE: Echo Lake Entertainment president Doug Mankoff and Blue Ice Entertainment’s Steven Silver and Neil Tabatznik have unveiled Blue Lake Entertainment, a fund to finance films with budget $10 million and higher. The 8-figure fund is backed by private investors in the US and Canada and will invest in up to four films per year. The emphasis is on commercial fare with bankable directors and casts. Blue Lake will have a non-exclusive relationship with Glen Basner’s FilmNation, which will handle foreign sales on select titles. Blue Lake’s first investment is La Piel Que Habito, the Pedro Almodovar-directed film which just wrapped and has Sony Pictures Classics aboard for domestic distribution. FilmNation is selling foreign on that film.
“The relationship with FilmNation is critical in helping Blue Lake identify and sensibly invest in commercially viable films,” Echo Lake president Doug Mankoff said. “While our first picture is a high-end specialty film, we fully intend to invest in genre and cast driven films.” Targets will be comparable to Echo Lake’s last two films, the upcoming John Carpenter’s The Ward, and the Demi Moore-David Duchovny-starrer The Joneses. Echo Lake’s other films include the Sarah Polley-directed Away From Her and Gavin Hood’s Tsotsi. Echo Lake’s management division, headed by Mike Marcus and Amotz Zakai, reps Carpenter, Walter Hill, Deepa Mehta, Michael Caton-Jones and Fred Schepisi. Blue Ice is a division of the Blue Ice Capital Group, which in 2009 sold off its film/TV production company Barna Alper Productions to EOne Entertainment.