The African film industry needs funding now more than ever to unleash its full potential and overcome challenges. According to a UNESCO report, some of these hurdles include a lack of infrastructure, piracy, weak distribution networks, and limited access to finance. To address this gap, Volition Cap, a SEC-licensed asset management company, partnered with investment club, Vizient Coop to create the Vizient Entertainment, Media and Art (VEMA) Pool, which has set a unique precedent for financing in this vibrant sector.
In 2019, Volition Cap launched the first-ever private equity fund to leverage investment clubs. This weaved collaboration into the very fabric of finance and signaled a new dawn for the continent’s cinematic landscape.
Financing “The Black Book” movie, was more than just funding a film – it is a testament to Vzient Coop’s belief in the sector. Notably, the movie holds the record for the highest-charting Nigerian film on Netflix. This recognition by a major distributor emphasizes the strength and commercial appeal of African cinema. The production and acquisition of “The Black Book” signify a tipping point in Nollywood, Nigeria’s thriving film sector and the world’s second-largest film industry.
The VEMA Model
The Vizient Entertainment, Media, and Art (VEMA) Pool is a trailblazing model for private equity in Africa. With participation by Vizient Coop members, VEMA comprises Africans who have pooled their resources to invest. This model offers several benefits over conventional financing methods, such as:
- Enabling African filmmakers to access cheaper sources of capital required to produce high-quality films: African cinema is often under-resourced, which hampers the ability of filmmakers to produce global movies.
- Empowering African filmmakers to have more control over their films: giving them more creative autonomy and ensuring that their films reflect their own unique perspectives.
- Fostering the growth of African cinema: by providing a platform for filmmakers to create visibility for their work.
Vizient Coop’s investment in African cinema is helping to create a more sustainable and equitable film industry on the continent. By providing filmmakers with the resources they need, Vizient Coop is creating jobs and opportunities for African creatives. It is also helping to take African stories to the world, showcasing the rich diversity of our culture.
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