Academy Award-winning vfx studio Digital Domain has a little extra cash to play around with thanks to a $31 million investment from Falcon Investment Advisors and GunnAllen Financial. Falcon principally Rafael Fogel will join the Digital Domain board of Directors, which is led by Digital Domain Co-Chairmen John Textor and action-flick director Michael Bay.
While Digital Domain plans to use the investment for general corporate purposes such as retiring debt, the company will also put some of that cash toward making technological breakthroughs, especially when it comes to photo-realistic digital humans.
“This cutting-edge development will revolutionize the entertainment industry,’ says Digital Domain CEO Carl Stork. ‘It will change the way we think about live-action and will even allow directors to bring back personalities of the past to ‘perform’ new material. We will debut our initial efforts in this area in early fall.”
Digital Domain has created visual effects for such blockbuster films as Titanic, The Day After Tomorrow and I, Robot. in May of this year, the company was by an affiliate of Wyndcrest Holdings, a Florida-based private investment and acquisition firm whose principals include Bay, Textor, Stork Jonathan Teaford and football great Dan Marino.
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