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Cassian Elwes’ Movie Collective Hits Target, Anjelica Huston Film ‘Utopia Road’ Financed (Exclusive)

Cassian Elwes’ Movie Collective Hits Target, Anjelica Huston Film ‘Utopia Road’ Financed (Exclusive)

Movie Collective, the crowdfunding venture launched by producer Cassian Elwes and filmmaker Marcus Markou, has hit its first investment target, clearing the way for Anjelica Huston picture “Utopia Road” to enter production.

The new venture set out to raise an initial £500,000 and hit that target this week ahead of the June 20 deadline. The first-round investors, 458 in all, hold 15.17% in Elwes and Markou’s Movie Collective. The company said they will get dividends and a share in profits. The founders do not get a dividend until the investors have recouped half of what they put in.

Backers buy into the Movie Collective slate rather than specific projects, which is the usual crowdfunding model for indie projects. The company’s stated aim is to “get indie films financed in a landscape dominated by big-budget studio fare.”

“Utopia Road” is the first Movie Collective picture out of the gate. Huston (“The Addams Family

See full article on Variety