Asylum Entertainment Group Invests in DARE Pictures

Non-scripted production company Asylum Entertainment Group has made a strategic investment in the London-based DARE Pictures.

Asylum’s investment in DARE provides the company access to a global portfolio and broadens Asylum’s network. The investment also sees DARE’s angel investor Rosegown exit the business, while Derren Lawford, founder and CEO, will continue to lead day-to-day operations.

Michelle Morgan is to remain the chair in the new board structure, moving to company director and minority shareholder of the business.

“Derren and his studio exemplify the vision and trajectory we value at Asylum,” said Steve Michaels, CEO of Asylum. “His enviable track record and diverse interests make him an ideal partner, and we are honored to become an essential part of DARE’s continued growth.”

“Asylum has an undeniable passion to reach audiences through its distinct and impressive IP, a passion we share at DARE,” said Lawford. “Steve is an incredibly shrewd entrepreneur, so the opportunity to evolve our company within Asylum’s unique global network provides us with the perfect platform to create more original and memorable stories from around the world.”

The news comes on the heels of Asylum’s recent investments in U.K.-based production companies Soho Studios and Moon&Back Media.