The Quebec Culture Capital Fund said it is investing $5 million in the newly formed Remstar Capital Partners LP, an investment fund dedicated to the financing of feature films and television projects. Montreal-based Remstar Group, the parent of Remstar Studios — a new content production and financing venture headed by Los Angeles-based film and TV producer Clark Peterson — also will invest in the fund. Between Remstar Capital Partners LP and Remstar Media Partners, the group has now raised more than $20 million in equity for film investments.
“Remstar is extremely pleased to be working with the QCCF as we grow our company into a content provider of international scale,” said Maxime Remillard, CEO of Remstar Group. Added Peterson: “The newly formed fund will be investing in commercial, talent-driven film and television projects for the North American and international marketplaces.”
Remstar Studios intends to greenlight at least three projects in the next 18 months. The partnership between Remstar and Peterson was announced this month.
“Our investment in the Remstar Capital Partners LP fund is in direct line with the mandate of the Quebec Culture Capital Fund, which intends to stimulate the growth of cultural organisations and the development of their projects destined for the world stage,” said Maurice Prud’homme, General Manager of the QCCF. “We are proud to contribute to the exportation of our creator’s talent and the know-how of our producers, but also to the development of a Quebec-based company in the international markets that will generate significant economic benefits for Quebec.”
Peterson’s producing credits include Monster, Rampart and the upcoming Kahlil Gibran’s The Prophet. On the TV side, he has two pilots in production at CBS — one of which, comedy Taxi-22, is based on the hit French Canadian series.