A new Enterprise Investment Scheme firm called Orchard Media will launch next week, giving investors access to a slate of independent films executive produced by the legendary director of Aliens, Ridley Scott.

Scott Free Films will produce a series of UK-made films to be marketed under the banner “Ridley Scott Presents” and is seeking to raise up to £5 million ($7.9 million) from investors.

Specifically, the films will be in the genres in which Scott made his name - horror and suspense thrillers – but with budgets a fraction of those dedicated to Scott’s blockbusters like Gladiator. No Hollywood backlots will be necessary either, since the films will predominantly be filmed in Northern Ireland. Recent technological advances have made producing low-cost, high-quality films far easier, and new digital marketing channels now mean that low-budget films can sometimes prove to be runaway international successes.

Orchard has already secured Focus Features International to sell the films worldwide. This could be seen as a real advantage, since high distribution and marketing costs often mean that many films remain virtually unseen once made.

The partnership between Orchard Media and Scott Free Films continues a run of recent news in the EIS space, and in particular schemes linked to media projects. At the start of this month Future Capital Partners launched a new EIS which will invest in the creation and development of entertainment projects. The launch of the Prime Time fund followed hot on the heels of the launch of the Atlantic Screen Scores EIS. Atlantic Screen Group is seeking from £2 million to a maximum of £4 million to invest in film music.

Increasing numbers of high net worth investors in the UK are becoming interested in tax-efficient EIS and Venture Capital Trust vehicles. Investors can claim back up to 30 per cent relief against income tax on an investment in EIS investments to a maximum of £1 million per tax year.