EXCLUSIVE. Music entrepreneur Mike Amoia is joining the film and TV investment efforts at DCR Finance Corp., a New York-based film and media fund founded by Adi Cohen, Mark Damon and Jordi Rediu.
Amoia, who founded Mibe Music Co. — which controls rights to more than 100,000 tracks with over 2700 independent songwriters, composers, talents and artists — has also been a music producer and angel investor. He will join DCR’s $100 million private placement as a lead investor and head DCR’s music investment committee along with Mibe partner Peter Zepina. Amoia and Zepina will determine DCR’s decisions about buying into films and TV projects involving music and publishing rights.
Amoia, founder of Switchblade Productions has sold his equity shares in the company, stepping down from his principal role to take a more active role in Mibe and also steer efforts at DCR.
The participation by the Mibe duo brings the total raise by DCR to more than $19 million and the firm is set to wrap up two more significant investment deals over the next four weeks. All placement funds will be earmarked to finance small to midsize films across Europe and United States, helping filmmakers to complete their films and obtain domestic and worldwide distribution.
As a matter of policy, DCR has committed to invest in what it calls the “voices of tomorrow,” with 20% of all funds raised through its film fund set to be awarded to festival-winning films around the world. The funds will be allocated to festivals and film schools, which will award the winning projects with financing for the filmmaker’s current or future projects.
Legal management of the fund is being handled by James Greenslade, Razwana Akram and Simon Goldberg of London’s Simons Muirhead & Burton.
“We’re beyond excited for this moment to come to build a long-lasting relationship with Adi, Mark and Jordi of DCR Finance Corp’s team,” Amoia said. “Filmmakers often are burdened with navigating through the labyrinth maze of clearing music. DCR’s strategic plan for film and TV investment is nothing short of a Finance Wonder. The massive, combined expertise of Adi and Mark usher in a new era in films and TV investment and we are happy to be able both to be a partner and also offer our area of expertise.”
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