Investment in independent British film is set for a boost with the launch of a hedge fund by Simon Fawcett, the former FD of Pathé .

Fawcett, who is currently the chief executive of Aramid Capital Partners , hopes to raise £150m for the firm's entertainment fund, the Sunday Times reports.

Aramid was formed with three other film finance experts, namely Tim Levy of the UK's future films, David Molner from Los Angeles firm Screen Capital and Thomas Adamek from Stonehenge Capital.

Aramid plans to offer 'bridge finance' to UK producers. Under a new tax scheme to promote film-making in Britain producers can gain tax credits according to the portion of the film that is produced in the UK.

It does take time to receive the benefit in cash, however, which is where Aramid intends to come in and provide finance to bridge the gap.

Further reading:

Pinewood chief sees growth due to new film tax breaks

Profile: Fiona Hotston Moore, of Moores Rowland

Draft film tax relief regulations published