EXCLUSIVE: Magnetic Labs, the indie producer-financier founded by Adam Mirels and Robbie Mirels, is launching a private equity fund, which it says will “significantly expand the company’s financing capabilities alongside its established development and production businesses”.
The company didn’t disclose the backers of the fund, but it is said to be in the $50M range and is made up of a consortium of investors largely from outside the film world.
The fund has completed initial investments, including true-crime biopic The Leader, directed by Michael J. Gallagher, starring Vera Farmiga and Tim Blake Nelson, and the survival thriller Coyotes (pictured), starring Justin Long and Kate Bosworth.
Founded by the Mirels brothers, Magnetic Labs — previously 141 Entertainment — has producing credits including Ingrid Goes West, Mona Lisa and the Blood Moon, Susie Searches, Marjorie Prime, and The Feeling That the Time for Doing Something Has Passed.
The company has made recent internal promotions with Nicola Smith becoming Chief Operating Officer, overseeing operations and strategic growth initiatives. Tyler Gould has been
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