CCF completes its second investment

22/03/2006

The Creative Capital Fund (CCF) is delighted to announce the completion in March 2006 of its investment in Slingshot Productions Limited.

Slingshot Productions

Slingshot is a digital film production and distribution company that will finance, produce and distribute a number of micro-budget feature films over the next three years.

Capitalising on the clear trend away from often loss-making mid-budget feature films, Slingshot aims to exploit the opportunities afforded by the impact of digital technology on the film industry. Slingshot’s objective is to produce innovative and critically acclaimed films on a sustainable commercial basis. Its films will have average production budgets of £250,000, with cost savings achieved through the use of digital technology and a profit share arrangement with the talent and production teams. The films will be distributed digitally in the UK and Slingshot will use innovative marketing to target specific audiences.

The funding

The funding is split into two rounds: an initial investment to cover Slingshot’s operational costs, with a further round, subject to milestones, to cover production and distribution costs.

CCF has co-invested with Arts Alliance Productions, part of the Art Alliance group, which brings specific expertise in digital film distribution, film exhibition and online DVD rental.  Slingshot is based in Ealing Studios, London W5.

Fred Mendelsohn, Chairman of CCF, commented:  “Slingshot’s innovative business model provides the basis for an exciting investment opportunity in an industry undergoing change. Arvind Ethan David, Slingshot’s founder, has established an impressive team with good industry contacts and we are delighted to co-invest with Arts Alliance Productions.”

Arvind Ethan David, founder of Slingshot Productions, added:  “Finding early-stage equity investment into the risky world of movies is extremely hard. Finding early-stage investors who know anything about the space is nigh impossible. We are delighted to find in CCF and Arts Alliance investors who understand the sector and are receptive to the ways in which Slingshot’s approach differs to traditional investment propositions in this industry.”