Launch Financing Secures $15M Credit Facility from Pier Asset Management
The film-lending arm of Chris K. Daniels' The Launch Company will use the senior credit line to expand short-term production lending to indies in the U.S., Canada and the UK.
Launch Financing has secured its first institutional $15 million senior credit facility, provided by Pier Asset Management, according to Deadline. The facility is the company's first institutional warehouse facility and can be extended to $25 million over time.
The credit line will allow Launch Financing to scale short-term production lending to independent films in the United States, Canada and the United Kingdom. Launch Financing is the film-lending arm of Chris K. Daniels' The Launch Company.
Loans run eight to twenty-six weeks and are secured in first position against government production incentives, distributor minimum guarantees, pre-sales, committed equity, institutional capital and library-backed corporate guarantees.
Daniels is chief executive officer of The Launch Company and its lending arm. Wyatt Cavalier serves as chief investment officer of the Launch Financing JV, and Jess Mastro is head of development for The Launch Company.
Existing lending activity
Launch Financing has previously funded more than 60 media loans against tax credits, pre-sales and other committed production receivables. Past recipient productions include the thriller The Dutchman, the black comedy Thumb and the coming-of-age comedy The Marshmallow Experiment.
Launch Financing sits inside The Launch Company alongside Launch Development, Cinelaunch and Launch North, its physical production operation in Toronto. Daniels is also a strategic partner at Esme Grace, the boutique firm behind Michael Mann's Ferrari.
Quick answers
How much did Launch Financing secure from Pier Asset Management?
Launch Financing secured a $15 million senior credit facility from Pier Asset Management, its first institutional warehouse facility, which can be extended to $25 million over time.
What will Launch Financing use the credit line for?
The facility will let Launch Financing scale short-term production lending to independent films in the U.S., Canada and the UK.
Who leads Launch Financing and The Launch Company?
Chris K. Daniels is chief executive officer of The Launch Company and its lending arm, Wyatt Cavalier is chief investment officer of the Launch Financing JV, and Jess Mastro is head of development for The Launch Company.