The head of the venture fund Tolqyn Film Fund and former chess player Darmen Sadvakasov commented on the failure of "7 Qaraqshy", the most expensive film in Kazakh cinema. This was reported by Qazaqyia.kz citing Kursiv Media.
Tolqyn Film Fund invested 720 million tenge in director Kuanysh Beisek's film. The picture about an alternative history of the Semipalatinsk test site collected 730 million tenge over three weekends — this does not yet include payments to distributors and cinemas. That is, conditionally, the film "broke even" without bringing profit to its creators. In his Instagram, Beisek wrote that in Kazakhstan, in the next two to three years, expensive experimental cinema will not be made after such an experience.
The director's opinion was refuted by the investor
The director's opinion was refuted in his social media by the film's investor, the head of Tolqyn Film Fund.
"We at Dasco Capital and our fund Tolqyn Film Fund want to assure that we will continue to make investment decisions that give the most talented Kazakh filmmakers the opportunity to realize bold ideas and create world-class films," Sadvakasov noted.
According to him, venture investments imply risk, and the company was ready for it while fulfilling its mission: to bring Kazakh cinema to international markets. However, pessimistic conclusions, the businessman is sure, are premature.
"The fund is focused on making a profit. Already through Kazakh distribution, "7 Qaraqshy" will come close to the break-even point. Ahead is work with streaming platforms and international sales, where the film has great potential, so it is too early to draw final conclusions," the investor believes.
About the film earlier
Earlier, Kursiv LifeStyle wrote about what the plot of the film "7 Qaraqshy" is dedicated to and what references to Kazakh culture and history are in the picture.
It is worth noting that "7 Qaraqshy" is the most expensive picture in the history of Kazakh cinema. The film is dedicated to an alternative history of the Semipalatinsk test site. The director is Kuanysh Beisek. Over three weekends, the picture collected 730 million tenge, while Tolqyn Film Fund spent 720 million tenge on its production.
The investor's position
Darmen Sadvakasov is the head of the venture fund Tolqyn Film Fund and a former chess player. Together with Dasco Capital, he defined his mission as bringing Kazakh cinema to international markets. According to the investor, venture investments involve risk, and the company was ready for this risk.
Sadvakasov noted that through Kazakh distribution, the film will come close to the break-even point, and ahead lies work with streaming platforms and international sales. In his opinion, the film has great potential in the international market, so it is too early to draw final conclusions.
Thus, despite the statement by director Kuanysh Beisek that in Kazakhstan, in the next two to three years, expensive experimental cinema will not be made, investors intend to continue financing expensive films.