Not a slate.
A library.
Nemea is an independent film studio and co-investment fund. We produce auteur-driven films averaging $2M — built to travel internationally, designed to last in the catalogue. Every film is its own SPV. Investors are co-owners. The library compounds in value long after the fund closes.
02 — The Raise
Seed Round at a Glance
Fund Allocation
How each film is de-risked before production begins
Nemea operates across three jurisdictions specifically to access the best available incentive per project. Each film is structured so that full financing — fund equity, a Mexican incentive, BC production credits, and territory pre-sales — is in place before production begins. The risk is reduced at the architecture level, not managed after the fact.
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Film Investment Pool
$800K fund equity per film × 10 films. Investors are co-owners. 80% -
Studio Operations (4 yrs)
Team, legal, festival strategy, development overhead 15% -
Reserve / Bridge
Tax credit bridging, contingency, FX buffer 5%
04 — Per-Film Capital Structure
Build the financing stack.
Adjust each source to see how a film gets fully financed. EFICINE and EFICA are mutually exclusive — using one zeroes the other. BC PSTC and pre-sales are independent.
Independent of Mexican incentive — applies to qualifying BC labour spend. Enter your Canadian labour budget above to set the ceiling.
Fund equity is set to 40% ($800K) on a $2M film. EFICINE Art. 189 and the EFICA 30% decree are mutually exclusive — one Mexican incentive per film. BC PSTC applies independently to qualifying Canadian labour spend.
05 — Corporate Structure
Three-entity framework
Return Waterfall — Per Film
06 — Return Scenarios
Three-scenario model
Scenarios are illustrative. Past comparable films shown in the comparables section — Son of Saul 5.5×, Capernaum 16×, La Llorona 11.8×.
Fund MOIC — blended across 10-film slate (2 Success · 6 Normal · 2 Flop)
Scenario mix assumes 2 Success · 6 Normal · 2 Flop films over a 4-year deployment. Approx. IRR: 12%.
07 — Board of Advisors
Industry-defining experience
Guillermo Arriaga
Global Narrative
Cannes Best Screenwriter for The Three Burials of Melquiades Estrada. Wrote Amores Perros, 21 Grams, and Babel (Academy Award nomination). Winner of the Alfaguara Novel Prize 2020. One of the most recognized storytellers working in world cinema.
Federico González Compeán
CEO, CIE Internacional
Producer of Amores Perros (Oscar-nominated). Architect of the Formula One Mexican Grand Prix and Auditorio Nacional as leading entertainment venues. Oversees one of Latin America's largest live-entertainment and media corporations.
Miguel Mier
Global COO, Cinépolis
Global Chief Operating Officer at Cinépolis, overseeing 6,000+ screens worldwide. Directly responsible for growing the circuit from 300 to 6,000 screens across multiple continents. Founding partner of Greenlight Productions.
Juan Carlos Lazo
Former Director General, 20th Century Fox Mexico
Oversaw 350+ films at 20th Century Fox Mexico, including Titanic, Avatar, and Y Tu Mamá También. Generated 20,000M pesos in box office receipts. Decades of distribution relationships spanning all major North American and Latin American markets.
08 — Development Slate
10 projects in active development
Each project is developed to package stage — script, director, and key cast attached — before any production financing is secured. Full slate details available in the Data Room under NDA.
| # | Project | Genre | Budget Range | Financing Strategy | Status |
|---|---|---|---|---|---|
| 01 | Film 1 | Adventure | $1–2M | EFICINE + private equity | Pre-Production |
| 02 | Film 2 | Comedy | Under $1M | Private equity | Development |
| 03 | Film 3 | Thriller | $1–2M | EFICINE + pre-sale | Development |
| 04 | Film 4 | Satire | $2–3M | Pre-sale + equity gap | Development |
| 05 | Film 5 | Drama | $2–3M | Pre-sale + equity gap | Development |
| 06 | Film 6 | Psychological Thriller | $3–4M | SVOD pre-buy + tax credit | Development |
| 07 | Film 7 | Drama | $4–5M | SVOD pre-buy + tax credit | Development |
| 08 | Film 8 | Drama | $5–6M | Co-production + pre-sale | Development |
| 09 | Film 9 | Drama | $8–10M | Co-production + SVOD | Development |
| 10 | Film 10 | Thriller | $10M+ | Studio co-production | Development |
09 — Comparables
Precedent transactions
These are not aspirational references — they are the films that taught us what the model looks like when it works. Each one traveled internationally, found its audience, and generated returns from a disciplined budget. They share the nerve Nemea pursues: craft that earns its place at the best festivals, content that earns its place in the library.
| Film | Year | Budget | WW Revenue | ROI | Distributor / Buyer | Origin |
|---|---|---|---|---|---|---|
| Son of Saul | 2015 | ~$2M | $11M | 5.5× | Sony Pictures Classics | Hungary |
| Capernaum | 2018 | $4M | $65M | 16× | Sony Pictures Classics | Lebanon / France |
| Monos | 2019 | $1.8M | $1.9M + MUBI global | ~1.1× | MUBI / Neon | Colombia / multi |
| Drive My Car | 2021 | $1.3M | $15.4M | 11.8× | Janus Films / MUBI | Japan |
| The Worst Person in the World | 2021 | $5.6M | $13M | 2.3× | Neon | Norway |
| Aftersun | 2022 | $1.5M | $5M+ (mid-7-fig. acquisition) | 3.3×+ | A24 / MUBI | UK |
ROI figures reflect theatrical + primary SVOD/acquisition revenue where disclosed. SVOD-first releases show acquisition value rather than box office. All budgets are production-only estimates; P&A not included.
10 — Risk Factors
Material considerations
This document is for qualified investors only and does not constitute an offer to sell or solicitation of an offer to buy any securities. Past performance of comparable films does not guarantee future results.
11 — The Team
The founders
Santiago Arriaga
Founding Partner, CEO — Creative, Business & Production
Director and producer. Two Ariel Award nominations — Mexico's highest cinema honor. Debut feature A Cielo Abierto premiered at Venice, screened at Toronto, Busan, and Morelia, and was acquired by Netflix globally. Produced with K&S Films — the Argentine company behind Wild Tales. That collaboration gave Santiago first-hand experience inside one of the most respected independent production houses in the Spanish-speaking world. At Nemea, he leads strategy, investor relations, and creative direction — bringing a filmmaker's perspective to every fund-level decision.
Fernando De Yolanda
Founding Partner & Head of Development
Graduate of Vancouver Film School. A decade of work across commercials, music videos, and narrative film. Credits include Hermanos Gutiérrez, Matthew McConaughey, and Yalitza Aparicio. CICLOPE Festival Winner — one of the most selective advertising festivals in the world — and Official Selection at Morelia. This dual fluency between commercial craft and arthouse instinct is precisely what the mid-budget international market requires. At Nemea, Fernando leads creative development: sourcing filmmakers, shaping the slate, and bridging commercial and arthouse sensibilities.
Martín Cortina
Founding Partner, CLO & Producer
Entertainment lawyer and producer with 15 years closing film transactions, M&A, and structured finance deals across international markets — aggregate value exceeding $500 million. At Nemea, Martín designs the legal and financial architecture that makes every film possible: incentive strategy, SPV structure, co-production treaties, and investor agreements. He is the reason the structure is as clean as it is.
How your capital works
Fund → Film → Returns
Your investment sits in Nemea Studios Inc. (Delaware C-Corp). The fund takes an equity position in each film — you are a co-owner of the IP, revenues, and backend, not just a studio equity holder. Here is how capital flows from your commitment to your return.
Editorial Doctrine
What makes a Nemea film
Most production companies describe themselves by genre or budget. We describe ourselves by sensibility. This is unusual. It is also what allows us to attract directors who could work with anyone.
Craft that calms. Content that destabilizes.
A viewer enters a Nemea film thinking they know what they are about to see — and leaves realizing that something has shifted. If a film leaves you exactly where it found you, it is not a Nemea.
We do not hire directors. We build careers.
The question we ask is never “is this project good?” It is “do we want to be in business with this person for the next ten years?” If the answer is no, the project does not happen — even if the script is brilliant.
The director has final cut. Always.
Final cut is not a courtesy. It is not a negotiating chip. A Nemea contract should leave a filmmaker more confident in the collaboration, not less. If they feel cornered, we wrote it wrong. We rewrite.
Value lives in the library, not the box office.
Nemea films do not live off their year of release. They live off their decade. Every film we produce is a vote on what Nemea is. After twenty or thirty consistent votes, we no longer have to explain what we are. The catalog says it.
A premiere is not a trophy. It is a launch sequence.
The festival determines which sales agents return our calls, which distributors show up, which critics write the first words. A great film that premieres at the wrong festival can disappear. Festival strategy is a financing decision.
“Someone will watch a film without knowing it is ours — and suspect it anyway.”
Not from the logo. Not from the director. Not from the genre. From something in the texture — in how a scene breathes, in how a character refuses to be summarized, in how the ending refuses to console.
Nemea's editorial identity is documented in four internal documents — The Voice, The Manifesto, The Talent, and The Image — available in the Data Room. This is unusual for a production company at our stage. It is also what allows us to attract filmmakers who could work with anyone, and to build a catalog that compounds in value rather than aging.
Frequently asked
Questions investors ask
What kind of films, what kind of directors, and how does the money actually work. If your question isn’t here, use the form below.