FilmHedge completes $100 million debt financing to lend for film and TV production

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Fintech operation MovieHedge closed a $100 million debt financing, Variety has learned.

The Atlanta-based company offers short-term loans for film, television and other media productions, as well as products that track production spend in real time and automate performance reporting for content investors. FilmHedge has helped fund 14 feature film productions so far, including sci-fi thriller “Beyond Skyline” starring Frank Grillo.

Private finance company Coromandel Capital provided $50 million, as did another undisclosed company earlier this year. FilmHedge’s financial products determine the terms of loan offers using an algorithm, basing its model on production finance plans and corporate agreements.

Coromandel Capital provides flexible, non-dilutive growth capital via senior secured lines of credit and term loans to specialty finance and technology companies outside of traditional channels such as banks.

“Our mission at FilmHedge is to make media investing more efficient, faster and more scalable. You can’t really do that if you’re a film fund, a bank, or a private equity firm. These models require too many decision makers to sign a deal, which means they are slow,” said Jon Gosier, Founder and CEO of FilmHedge. “That’s why alternative lenders like Coromandel are great partners for us. We offer them a passive, technology-driven way to generate returns from an asset class they weren’t exposed to. »

Rob McGregor, co-founder and managing partner of Coromandel Capital, added that the partnership would address “the unmet funding needs of the film industry. The team has considerable experience, robust and proprietary customer acquisition channels, and the know-how to effectively underwrite and mitigate risk. »

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