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In David Mamet’s showbiz satire “Speed the Plow,” a wily producer explains that when it comes to sharing movie profits with investors, “there is no net.” Hollywood’s famously fuzzy bookkeeping practices are anathema to former venture capitalist Wade Bradley, who says his new company, IndieVest, wants to keep investors well informed. “One thing we put forward to our investors is that everything in the way we do business is disclosed.”
For the company’s first release, “Saint John of Las Vegas,” Bradley made good on his promise of “complete transparency.” He says, “When we finished production on ‘Saint John,’ we sent to each investor this 280-page document, known as a bible, that listed every expense. We want our investors to see from the beginning how all of the money is spent.”
Founded in 2006 by Bradley and producer Mark Burton, IndieVest raised $10 million for “Saint John” after partnering with Stanley Tucci and Steve Buscemi’s new production company. Buscemi stars in the black comedy, released earlier this month, as a gambling-addicted insurance agent who tries to prove a stripper in Las Vegas is defrauding the company on a car accident claim.

See the full article from “San Francisco Chronicle”