EXCLUSIVE: Hideout Pictures, the financing, developing and producing arm of Nashville-based Average Joes Entertainment, has launched a film fund with the aim of providing equity and gap financing to indie films, and to acquire IP to be developed as TV or film properties.
The fund, backed by private equity, is said to be in the eight-figure range. No other details were available.
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Hideout Pictures, which launched in 2014 via co-founder and CEO Shannon Houchins, has provided financing for projects including Kevin Smith’s forthcoming Jay & Silent Bob Reboot, 3022, Ted K starring Sharlto Copley and other pics. Its producing credits include the CMT series Still the King starring Billy Ray Cyrus, which aired for two seasons.
“We are a filmmaker-driven company who understands the diverse roles financiers can play within independent films,” Houchins said. “This has proven to be a successful vertical within our business and the creation of the fund will further align ourselves with filmmakers where we can invest in their vision of bringing entertaining and rich stories to the big screen.”
Average Joes is an record/entertainment company that also houses three record labels, a management company and a publishing entity. Its music artists roster includes Colt Ford and Montgomery Gentry.
Jay & Silent Bob Reboot opens October 15 via Fathom Events and Saban Films.