How Nemea Works
No film enters production until all four financing buckets are confirmed.
Nemea finances each project until it is sold. The $10M covers packaging, development, and operations — not the full production cost of every film. Each project assembles its own financing from four sources before cameras roll, so no film depends on the fund alone and no single outcome can damage the portfolio.
Scenario Analysis
Three-scenario financial model
Scenarios are illustrative. Past comparable films (Son of Saul 5.5×, Capernaum 16×, La Llorona 11.8×) are shown in the Investor Portal comparables section.
Adjust scenarios to see how different distribution outcomes affect fund returns. The fund takes an $800K equity position per film, with the balance financed through territory incentives and pre-sales. Scenarios reflect different distribution outcomes across the 10-film slate. Base case: 2 Success · 6 Normal · 2 Flop
Revenue by Year
Revenue vs. Expenses
Capital Return
Cumulative Return vs. $10M Invested
Revenue Mix (Year 4)
Revenue Sources
Stress Test
Adjust assumptions — see impact in real time
Adjust the inputs below to stress-test the fund's return. The fund takes an $800K equity position per film. Returns flow through the waterfall: 120% recoup first, then 8% preferred return, then profit split (50% LP / 30% GP / 20% talent). Territory incentives — one Mexican incentive per film (EFICINE 189 or EFICA 30%) plus BC PSTC where qualifying — reduce net cost and improve MOIC. Defaults show base case (2 Success · 6 Normal · 2 Flop).
Raise Sensitivity
What changes from $2M to $10M
The raise determines how many films the fund can co-own and how long the studio can operate. At $10M: 10 films, 48-month runway, $8M deployed as fund equity. Each film's remaining 60% is financed through territory incentives and pre-sales. Projections assume base-case outcomes (2 Success · 6 Normal · 2 Flop).
| Raise | Films Co-Owned | Ops Runway | Film Pool | Fund Equity / Film | Base MOIC | Est. Net Return | Key Constraint |
|---|
Development Slate
10 films — packaging stage
Each project is brought to greenlight-ready package before production financing is sought. Budgets are indicative — final amounts depend on cast, locations, and financing structure secured.
| # | Project | Genre | Budget | Financing Strategy | Tax Incentive | Distribution | Outcome |
|---|
Probability Model
Four-tier outcome framework
Probability-weighted fund MOIC: 1.37× — conservative baseline. Scenarios are illustrative; comparable film returns are shown in the Investor Portal comparables section.
Based on industry data for independent films in the $500K–$10M range. Applied per film across the slate to derive probability-weighted returns.
Film Financing Sources
How each film raises its own budget
Each project is built around four capital sources locked before cameras roll: fund equity, one Mexican incentive (EFICINE 189 or EFICA 30% decree), BC PSTC on qualifying Canadian labour, and territory pre-sales. The three-country structure makes this possible per film, systematically.
Production Incentives
One incentive per film — strategically selected
Nemea's three-country structure is designed to access the best available incentive per project from day one — not as an afterthought. Location, co-production structure, and financing are decided together.
Use of Funds
$10M deployed over 4 years
80% takes equity positions in the 10-film slate. 15% runs the studio across four years. 5% is held in reserve — primarily to bridge BC PSTC while it processes post-wrap, and for contingency.