SHANGHAI – IMAX China has partnered with state-backed private equity firm China Media Capital to launch a new film fund.
The fund will target Mandarin-language movies and is to be involved in a minimum of 10 pictures, the two companies announced Tuesday in Shanghai. Initial capitalization is $50 million.
IMAX China is a Hong Kong-based, majority-owned subsidiary of IMAX Corporation, established by IMAX specifically to oversee the expansion of IMAX’s business throughout Greater China. CMC last year announced that it had bought a 10% stake in the unit. In late May IMAX China confirmed plans for a separate stock listing in Hong Kong.