Indie Crowd Funder Raven Fund 1 Has Registered Over $43 Million of Investor Interest

Indie Crowd Funder, a crowdfunding platform set up to provide equity capital for films and entertainment, has seen solid progress on their Raven Fund 1.

Using Tier 2 of Reg A+, Raven Fund 1 has now garnered over $43 million in investor interest. Crowdfund Insider reported back in November that Raven Fund 1 had registered $15 million of investor interest in just seven days. Using Reg A+, an issuer may raise up to $50 million.

Now indications of investor interest are non-binding commitments from individual investors. The key for Indie Crowd Funder is keeping as much and as many of these investors committed to backing the fund. Under Reg A+, companies raising capital are allowed to “Test the Waters” to measure how much support an offer will capture. Right now, it looks like Raven Fund 1 is doing pretty well.

So what is Raven Fund 1?

The purpose of the Fund is to develop, produce, distribute, and manage a diversified portfolio of horror genre entertainment content, between $500,000 and $5 million dollars per product. This is a “blind pool” offering because the company has not yet identified any investments to develop with the net proceeds of this offering. The company expects to provide liquidity to shareholders by listing the common shares for trading on OTC Markets or another trading markets, within three years from the completion of the offering. Investors may get in with a minimum purchase of $100 (@$1 per share) according to their most recent filing.  Offering costs are pegged at $1 million so if Raven Fund 1 only hits the minimum level of investment of $2 million – 50% of the money is already gone.

As Indie Crowd Funder points out, the horror genre is concept driven and does not demand a costly “star” to carry the film.  There is a history of low budget horror flicks that have performed quite well over the years. Horror films can be a gift that keeps on giving.

The Offering Circular for the offer is viewable here.