01:50 Fri 29 Jan 2010
Avatar nets Ingenious Media millions
Ingenious Media is laughing all the way to the bank following the remarkable success of Hollywood blockbuster Avatar.
James Cameron's 3D film has scooped well over $1 billion (£620 million) at the box office, making it the most successful film in history.
Ingenious Media is a private equity fund founded Patrick McKenna, the chairman of the Young Vic Theatre and the investment guru to the UK's showbusiness elite.
It is said to have earned in the region of $125 million after backing the film with US private firm Dune Entertainment. The duo is reported to contributed $180 million towards the film's production budget of $300 million.
Ingenious has backed a string of blockbusting films, including Wolverine, X-Men Origins and Hot Fuzz.
For legal reasons the group would no disclose how much it had made from Avatar's success. A spokesperson for the group said: 'We are delighted with the performance of the film. It's the biggest selling movie of all time, it's a moveable feast which is breaking records all over the place. It is clear we have done well out of it.'
Ingenious invests across the arts industries. It runs a range of Venture Capital Trusts including Ingenious Music, Ingenious Live and Ingenious Entertainment.
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