EXCLUSIVE: Intercut Capital, founded this year by producers David Pomier and R. Bryan Wright and which is a co-financier on the upcoming Jay and Silent Bob Reboot, has added $125 million in new funding in a partnership with TinRes Entertainment. The private lender plans to expand its scope worldwide eyeing projects budgeted between $3 million-$20 million.
News of the deal is being unveiled Monday at the American Film Market in Santa Monica.
It’s the latest move from Intercut, which launched earlier this year. Pomier is a producer whose credits include Free State of Jones, Looper, Self/less, Cleaner, Seeking Justice, Spike Lee’s She Hate Me, 25th Hour and Miracle at St. Anna, U-Turn and the Coen Brothers’ Raising Arizona. Wright is a film producer and financier whose credits include Jumper, Miracle at St. Anna and Cadillac Records, as well as working on Zipper, Lee Daniels’ The Butler, Left Behind, American Horror House and The Chameleon.
“We’re not a bank, we’re fellow producers,” Wright said. “Most private lenders approach films like a bank would. They take your hard collateral, they discount it and that becomes their offer. If you go to the usual suspects, that’s what you’ll experience. In contrast, Intercut looks at your entire project, including the script, the cast and sales plan. We have great sales intelligence and a better understanding of incentives. The result is a more aggressive offer not bound solely by the current collateral.”
Added Pomier: “Can we help them meet their strike price? That’s always our first question. I’ve produced many films, so it’s an exercise I’m very familiar with. When you go to multiple sources to cashflow your project, you have multiple timetables, and all those legal and financing fees add up. All of that takes money off of the screen.”
TinRes Entertainment is a Bahamas-based entertainment finance and production company whose upcoming projects include Bill & Ted Face the Music, Come Away with Angelina Jolie and David Oyelowo, and The Courier with Olga Kurylenko and Gary Oldman.
“TinRes shares our philosophy of approaching lending like producers,” Wright said. “This new capital allows us to radically expand that approach to production partners throughout North America and internationally. We’re excited to be at AFM.”