MUMBAI: Hemisphere Capital Management, the tentpole fund behind "Men in Black III" ?Smurfs" and "TinTin", has raised $100 million from a group of banks led by J.P. Morgan Chase?s Entertainment Group in a fresh round of funding.

This is part of a $400 million fund the financier announced in 2010. J.P. Morgan is Hemisphere?s debt financing partner.

Based in Calgar, Hemisphere Capital Management is an independent, employee owned investment management firm.

"The Fund will target those properties that have greater future sequel potential, so that a successful investment will yield multiple investment opportunities," Hemisphere stated in a confidential investor presentation earlier this month.