Pharos Capital Group LLC of Nashville and Dallas, has invested $8 million in Reel FX Inc. Based in Dallas, privately held Reel FX provides computer-generated 3D animation and visual effects in the broadcast, feature film, computer and videogame and advertising industries. The company also specializes in the development, production and brand management of family-friendly programming and has a number of active projects including feature films, television and direct-to-DVD series.
"We think Pharos is a great financial partner and we look forward to working with them. We were careful to choose a partner who understood the vision we have for Reel FX, and the Pharos team came in, did the research and due diligence and validated where we are taking the company," said Steve O'Brien, ceo of Reel FX. "This investment will really allow us to fuel our growth and further develop several great projects in our pipeline."
"We look forward to working with Steve O'Brien and the rest of his top-flight management team to create an industry leader in the production and development of animated and computer enhanced entertainment content," said Robert Crants, Partner at Pharos Capital.
The company intends to use the proceeds to fund additional operational needs such as production costs on current direct-to-DVD properties and investments in intellectual property development. Most recently, the company released its first direct-to-DVD series, BOZ, THE GREEN BEAR NEXT DOOR, targeted at pre-school children.
In conjunction with the financing, Kneeland Youngblood of Pharos Capital Group has agreed to join the company's board of directors.
With studios in Dallas, Pasadena and Miami, Reel FX (www.reelfx.com) has a team of more than 100 animators, visual effects artists, art directors, editors and audio editors producing projects for commercial and entertainment purposes. The companys 74,000 square-foot Dallas studio houses seven visual effects/editing suites and four audio suites, as well as 2D art and 3D animation departments. From national commercials to feature films and television programs, Reel FX has the talent base, technology and state-of-the art facilities to turn any idea into priceless media.
Bill Desowitz, former editor of VFXWorld, is currently the Crafts Editor of IndieWire.
