Glentham’s fundraising, via the Seedrs crowdfunding platform, was fully subscribed in 22 hours.
Glentham Capital is a start up fund management company. It is looking to raise a listed fund in Guernsey this year which would provide finance for Hollywood films.
The company’s Chairman, Nicola Horlick, who has been a fund manager in the City for 30 years and the company’s CEO is Pandora Edmiston, who worked in the film industry before moving to Citibank for a number of years.
Post the credit crunch, there is a shortage of finance for films in Hollywood. Horlick said that she has successfully invested in a number of film projects over the past five years and saw an opportunity to make a significant amount of money from financing films. Glentham Capital, as a fund management company, say that they would charge the new fund a management fee of 2 per cent per annum. As it plans to raise $100m, this would give it an annual revenue of $2m.
In addition, the company would have a performance fee of 20 per cent, which would be calculated bi-annually.
However, a note of caution as one hopes Glentham’s hasty backers read the small print, too. If any failed to spot they’re funding the manager’s salary, not Hollywood movies and, under the Seedrs nominee structure, they’re not individual shareholders, they may wish they’d stood up for better rights.
