Adaptive has raised $16.5m from AMC Networks and Atwater Capital to enable it to develop new entertainment projects for traditional and digital media.

US-based entertainment content producer Adaptive Studios has secured $16.5m in series B funding from media company AMC Networks and Atwater Capital, part of property management and services firm Atwater Group.

Adaptive runs an entertainment studio that incorporates projects covering film, television, books and digital-first content, working with partners such as AMC Networks, HBO, Lionsgate, Netflix, Verizon, Miramax, FX Networks, YouTube Red and Fox Animation.

The company has an intellectual property-first focus, seeking to buy properties owned but undervalued by major…