Accelerating its expansion, Wild Bunch today launched the China Europe Film Fund in partnership with private equity group China Film and TV Capital. The venture will work on the development and financing of pictures co-produced by Chinese and European producers and designed to be commercialized internationally and in China. The aim is to gradually seek outside investors and grow the field of investment to other private equity segments in the entertainment sphere. An official fund agreement was signed today during French President François Hollande’s visit to Chinese President Xi Jinping in Beijing.
Wild Bunch, which is now listed on the Frankfurt Stock Exchange and recently hung out a TV shingle, has been steadily expanding into a pan-European major. The powerhouse sales and finance outfit has distribution in France, Italy, Germany, Spain and Austria and has often handled Chinese films in the past. Among them are the works of Lou Ye and Zhang Yimou.
CFATC was created by the China Film Foundation, the Cultural Assets Supervision and Administration Office of Beijing Municipal Government, Beijing Cultural Investment Development Group, Sparkle Roll Group and CITIC Asset Management Corporation. It aims to support cultural industry by investing in films and TV dramas, along with exhibition chains and other media companies. It has a $322M fund.
Wild Bunch CEO and co-founder Vincent Grimond says, “We are honored to be associated with CFATC and with such an ambitious project. For Wild Bunch, this is a natural evolution, as we have always had strong connections with China, which we view both as a formidable market and as an amazing source of talent and movies. The co-production possibilities between China and Europe, resulting from the constant efforts of the authorities of several European countries, with France at the forefront, create the perfect environment for this partnership. This is definitely extremely important for Wild Bunch’s development strategy and growth, but we also hope to make it an example of success, at the key confluence of cultural and industrial cooperation.”