Nollywood, Nigeria's vibrant film industry, takes a confident stride towards global recognition with the launch of Capital Film Productions' Act 3, a ₦500 million fund dedicated to propelling captivating stories onto the silver screen.
Leading the charge are Adim Isiakpona, a film veteran with experience at Google, and Hamza Kassim, a business opportunity whiz from Shell. Their passion for cinema shines through their track record, having executive produced hits like "Gangs of Lagos" and "Brotherhood," with Isiakpona even lending his expertise as an associate producer on "Sugar Rush."
Over the past three years, Capital Films has honed its investment prowess, raising $800,000 through two prior funds and nurturing seven films to fruition. Their portfolio boasts a 37% cumulative return, a testament to their discerning eye for cinematic gems. Committed to empowering both seasoned and new talents, Capital Films has welcomed 37 investors in past endeavors, with a minimum threshold of ₦10 million ensuring a shared stake in Nollywood's success. For each project, they invest between ₦50 million and ₦100 million, ensuring filmmakers have the resources to bring their visions to life.
"We delve deep into the filmmaker's journey and business plan," explains Isiakpona, Capital Films' CEO. "Budgets vary based on the story's needs, and we anticipate a 24-month average return cycle, a win-win for both investors and storytellers."
Nollywood's global ascent is undeniable, fueled by giants like Netflix and Amazon Prime embracing its magic. "Gangs of Lagos" reigns amongst Amazon Prime's top 10 non-English films, while "The Black Book" racked up over 70 million views on Netflix in just three weeks, cementing the platform's dominance.
But Capital Films goes beyond financing. They provide filmmakers with invaluable guidance, collaborating during scripting and casting stages to ensure marketability and financial viability. "We understand the distribution model, production timeline, and expenses," says Isiakpona. "Our aim is to maintain around 50% investment, but can go as low as 25% to avoid overconcentration."
Tech giants are also captivated by Nollywood's allure. "The Black Book," directed by former software engineer Editi Effiong, received backing from African tech luminaries like Nadayer Enegesi, Olumide Soyombo, and Ezra Olubi. Nollywood's shorter return cycle, compared to tech's lengthy exit and IPO processes, is a siren song for these investors.
"Nollywood is poised for an explosion," declares Isiakpona. "Capital Films aims to be the catalyst, building a structured framework and enhancing capacity through financial support and active involvement."
Filmmakers like Tolu Awobiyi, a decade-long veteran and producer of "Bling Lagosians," echo this sentiment. "VCs have offered invaluable business advice, risk management expertise, and stakeholder navigation," he shares. "Their hands-on approach and experience from other high-risk environments perfectly suit Nollywood's dynamic pace."
As Capital Films embarks on its Act 3, six more cinematic treasures await funding in 2024. Their ambition doesn't stop at ₦500 million; their sights are set on a $50 million future. From "Our First Act" fueled by personal funds to "Act 3's" institutional backing, Capital Films is a testament to the power of passion and vision united. One film at a time, they're rewriting Nollywood's story, ensuring its curtain call on the global stage is a standing ovation.
Play audio
No comments