APX Launches $100M European Film, TV Fund – The Hollywood Reporter
Film and TV investment fund APX Capital Group has teamed with the production companies behind the Danny Boyle-produced music biopic Creation Stories to form a new U.K. and European arm.
As part of the deal, Herd Productions, which was set up by the founders of Burning Wheel Productions and The Engine Room, will merge into a subsidiary of APX in the U.K. and become an internal division of the company. Financial terms of the deal weren’t disclosed.
Herd will be managed by Shelley Hammond (Creation Stories), Hollie Richmond (Creation Stories), Ben Dillon (Angel has Fallen, X-Men: First Class) and Iggy Ellis (Notes on a Scandal). According to the company, a starting budget of 100 million euros ($105 million) has been allocated for film and TV projects to be completed as co-productions between APX’s network in Europe and the U.K., tapping into their existing deals in countries like Malta and Italy. This division will develop, finance and produce its own content, with the IP owned by Herd Productions.
Under the terms of the deal, Hammond will join the board of APX with immediate effect, with Ellis and Richmond forming the Herd board alongside two representatives of APX.
“We are absolutely delighted to be merging with APX on this journey,” said Hammong and Richmond. “From early discussions, we instantly knew we all shared a common drive to create both film and episodic Content which resonates with the world today. With a well-developed slate primed for production, we are beyond excited to start this next chapter together.”
Added Dillon: “To announce this joint venture with APX is a very important milestone for Herd. It affords us a platform to deliver a wide genre of culturally important, current and historical Film & HETV to audiences worldwide. I know I can speak on behalf of the whole team here at Herd in saying that we are all truly excited and eagerly anticipate both the short and long-term future of the company.”
The deal with Herd marks the latest deal for New York-based APX, whose film and TV fund was launched in October 2021. Last year it partnered with Beyonce’s father Mathew Knowles and his Music World Entertainment Group to invest $275 million in Italian TV and film co-productions, and earlier this year unveiled a pact with Cenya Productions to develop features for Latin America, with $20 million each year earmarked for co-productions from Brazil, Mexico and Argentina over the next five years.