Zefyr, the new media fund covering the west and south of Norway, provides public support and private equity to feature films, tv drama and games.
Zefyr is the biggest regional fund in Norway. The fund is owned by Bergen City Council and Rogaland County, and provides support and investments to audiovisual projects in the counties of Telemark, Øst-Agder, Vest-Agder, Rogaland, Hordaland, Sogn og Fjordane and Møre og Romsdal.
International co-productions with a Norwegian minority producer are eligible to apply for funding.
Zefyr administers two different funds:
1) Public funding: Approximately NOK 10 million per year in non-recoupable funding, granted by the Norwegian Ministry of Culture. There are 2-3 annual allocations. Main criteria: Spend in the regional audiovisual industry. Priority is given to projects that contribute to the development of producers, directors and screenwriters in the region.
2) Private equity / Gap: Approximately NOK 40 million, to be recouped in 1st position / alongside other private investors. Main criteria: Norwegian theatrical distribution.
Funding combines with the 25% reimbursement, or with co-production funding from the Norwegian Film Institute (NFI), but not with both.
International projects must have a co-production agreement with a Norwegian independent production company. Your Norwegian co-producer will apply and negotiate with Zefyr.
There are 2-3 annual sessions for the state support. Negotiations for private equity are processed continuously, and for the right project the turnaround time can be quick. Zefyr will review the project's regional spend, artistic quality, and/or market position and recoupment potential.
Projects must spend at least 160% in the area of Møre og Romsdal, Sogn og Fjordane, Hordaland, Rogaland, Vest-Agder, Øst-Agder and Telemark.
4 recouP EQUITY
If you are negotiating an equity investment, Zefyr will normally take a 1st position in the recoupment of the project's revenues, and will also own a share of the project corresponding to the fund's share of the private equity.