EXCLUSIVE: Alex Garcia, Latin America’s biggest indie film producer-financier, is getting into the prestige business by launching AG Capital, an equity-backed fund that will fully finance films in the $5 million-$25 million range and co-produce films above $25 million. AG Capital will operate in a similar high-end space to Megan Ellison’s Annapurna and Molly Smith’s Black Label Media.
AG Capital will come under Garcia’s controlling company AG Studios and will be run by him and former CAA film finance agent Laura Walker. The entity will be focused on English-language content across both film and TV. Garcia already is prolific through AG Studios, which is in post on Emir Kusturica’s On the Milky Road starring Monica Bellucci. Wild Bunch is handling international sales. The company also has Alfonso Pineda’s The Jesuit, scripted by Paul Schrader; Gael Garcia Bernal starrer Desierto, helmed by Gravity co-writer Jonas Cuaron, which IM Global is selling; as well as Demian Bichir’s directorial debut Refugio.
“Content is king,” Garcia said. “It’s a phrase which is used often but also one on which I’ve built my business. Laura is very well-versed in the space, with strong relationships with the leading producers, filmmakers and financiers. Together we will create top-tier content while simultaneously giving filmmakers a great experience.”
Walker has worked in production, where she served as assistant director to the likes of Richard Linklater, Peter Berg and Robert Rodriguez. She spent seven years with CAA in the Film Finance Group.
“Alex has invested $400 million in content over eight years,” Walker tells Deadline. “We want to make films of real pedigree at AG Capital. We don’t want to make a land grab. We’re going to be pretty particular with the projects we go for.”
AG Studios is the holding arm of an entertainment conglom with investments and businesses valued at $500 million in the U.S. and Latin America. With headquarters in Los Angeles, Mexico, New Orleans, Brazil and Colombia, Garcia also operates, through AG Studios, Itaca Films, Lemon Films, BN Films, Bazooka Films, Altavista Films and its distribution arm LATAM Pictures. In addition to production and distribution, AG Studios has stakes in Latin America’s most successful animation company (Anima Estudios), film festivals (Morbido, Los Cabos), online film platforms (Slated, Mubi), a production company for live music shows (ZZinc,), as well as sports brands (Lucha Liblre, Lucha Underground, Lucha Capital, Sopitas Racing Team NASCAR).
Details of AG Capital’s first project are set to be unveiled shortly. Deadline understands that there is no plan to launch an in-house sales arm or work with any one specific sales agent or distributor.