EXCLUSIVE: Fresh off playing a role in the strong opening of Coyote vs. ACME, Legion M is expanding its recently launched film fund.

The crowd-sourced, fan-driven film company is expanding the fund’s capacity to $5 million. It launched earlier this year in co-ordination with the opening of Fackham Hall, a send-up of Downton Abbey and other British period dramas.

While Fackham and other titles Legion M has supported have fared well, serving as a release partner for Coyote distributor Ketchup Entertainment has increased the company’s profile. Warner Bros., which produced the film as an extension of its Looney Toons property, shelved the project. Ketchup acquired it after intense online backlash to the abandonment by Warner Bros. Discovery.

Propelled by social media buzz, Coyote vs. ACME opened to $15.9 million, finishing No. 2 at the domestic box office in its first weekend.

Since launching the fund in January, thousands of Legion M shareholders have bought in, with the company deploying more than $2.5M across its first three releases. After Fackham, co-distributed with Bleecker Street, came Green Day comedy Nimrods, co-distributed with Inaugural Entertainment; and then Coyote vs. ACME.

Each film was introduced to Legion M and Film Fund investors separately. The Coyote vs. ACME allocation sold out in less than 48 hours, giving Legion M’s community the opportunity to invest directly in the theatrical release of a film rescued by enthusiastic fans.

Paul Scanlan, co-founder and CEO of Legion M, said the company brings a “one-two punch” to the challenged specialty film business. “First, we put our own money behind films we believe in. Then we lean in to help them succeed. Our community gives us another way to support a film as it moves through each stage of its release, from theaters to home entertainment and beyond, helping us continue building awareness long after opening weekend.”

As the Fund grows, a recurring pool of distribution funds is created, carrying over from release to release. Along with meaningful capital to put toward releases, Legion M’s online community is a potent resource.

By growing the Fund to $5M, Legion M will have greater capacity to participate in future releases while continuing to build a slate of films backed not only by capital, but by a community invested in their success.

The company is at the Toronto Film Festival looking to identify future titles. “Growing the Fund to $5M gives us more firepower to move quickly when we find films we believe in, and hopefully help more great movies find their audience,” Scanlan said.

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