Aramid, a hedge fund specializing in the provision of motion picture entertainment finance, is looking to raise $200 million to fund their diversification into television and other digital financing projects.

They have already invested $210 million and earned in excess of 20% in 2007. It provided financing to 20 independent film projects, invested in two studio finance deals in the United States, as well as in a live national U.S. theater portfolio.

Some of the projects Aramid is involved in are: "How to Lose Friends and Alienate People" based on the memoir of a struggling British writer trying to fit in at Vanity Fair magazine in New York. The film, which stars Simon Pegg, Kirsten Dunst and Jeff Bridges, is due for release in October. Other films to which Aramid has given financial backing include "Good," "The Secret of Moonacre," "Choke" and "Black Water Transit."

More at; Hedge Fund Aramid Launches Into TV and Digital Entertainment