EXCLUSIVE: Indie filmmakers have a new source of funding. Vega Baby, the Singapore-based film production and distribution company, has set up a fund to finance two to three films a year with budgets up to $10 million. The company says it will finance projects from domestic and international partners, with a select number of films to be distributed through its releasing arm. Company officials say they’re “committed to a filmmaker-friendly approach” while focusing on a return on investment for their partners, a consortium of private investors in Singapore.
Among the projects benefiting from the infusion is the Black List 2013 script Dig, which Vega Baby acquired in November. The action-thriller penned by Adam Taylor Barker is set in the Appalachian Mountains and tracks Sol, a tough-as-nails grave digger out for revenge after his father-in-law kidnaps his daughters. The plan at the time was to move fast on the pic, packaging the project to shoot this year.
Everly, the company’s first in-house feature film production locked before the funding deal, was released Friday through Radius-TWC. It stars Salma Hayek as a woman facing down mobsters sent by a yakuza mob boss to kill her. Up next is Ghoul, a true-life cannibalism story about Ukrainian serial killer Andrei Chikatilo. The latter film, which Vega Baby acquired during last year’s American Film Market, will bow March 20. Rob Cohen, director of the original The Fast And The Furious, is an executive producer.
Vega Baby has offices in Los Angeles, Singapore and Hong Kong and made its debut at AFM 2013. Principals are Vega Baby CEO Ricky Budhrani, Vega Baby Productions CEO Adam Ripp, and Vega Baby Releasing CEO Sheldon Brigman.