Hollywood Media Bridge has just been infused with a $25 million equity investment from Canadian entrepreneur Jonathan Kitzen and his Kajanga Syndicate, which are increasing their investment in the HMB fund founded by Phillip Goldfine. Hollywood Media Bridge has produced 15 films in the past two years, including the Academy Award-winning documentary short The Lady In Number 6: Music Saved My Life. Kitzen invested in that documentary and was its co-producer.
“I’ve been on both sides of the fence, and although he’s not producing $100M blockbusters, from our perspective, Phil consistently makes money on his projects” Kitzen said in an interview with Deadline. “This gives us access to Hollywood, and Phil has a track record of actually making money on his films. We’re giving them a line of credit of $25M, and they can to tap into it on a per-project basis. There is a 24-month term, and the condition on it is that in that term he will return the principal. By giving them the capital, it allows them to move more quickly. We are then able to access those films for our visual space as we are looking at other entrepreneurial opportunities to capitalize on our investment.” Kitzen, who has interests in camera technology, property and forestry, added that Hollywood Media Bridge has a real business model “not a hit-and-hope strategy that I normally see presented to me.”
Hollywood Media Bridge is developing and producing feature films and documentaries as well as television projects.
The deal was structured by Nicholas Reed, the former ICM agent who was a producer on Lady In Number 6 and owns Shareability, a full-service YouTube-only marketing company that was responsible for the Spider-man Parkour viral campaign for Sony.
“Jonathan is a visionary entrepreneur with great insights into the changing technology and distribution platforms of the media business and by definition of his business success is a natural teller of stories,” said Goldfine, formerly a production exec with New Line Cinema and Trimark Pictures. “It’s great to have a strategic investor that brings more than just money.”