Launched less than a year ago, Jake Film Finance has put money into two Australian features and has signed letters of intent with a number of producers. The Perth-based film is cash flowing the producer offset and pre-sales, drawing on funds from high-net worth individuals.

Its first investment was in Kriv Stenders’ crime thriller Kill Me Three Times. The second is Sucker, writer-director Ben Chessell’s saga of a 17-year-old Chinese-Australian boy who embarks on a road trip with the Professor, a colourful, aging conman, and his daughter.

Jake Film Finance founders and directors are Jarod Stone and Michael O’Donnell.

They hired entertainment lawyer Joan Peters as executive producer. “I am the interface between producers and the money, ” said Peters, who is also a member of Screen Australia’s board. “The fund is gearing up and we’re open to new projects. We would like to grow to the point where can provide funds of up to $60 million.”

She said Jake Film Finance‘s primary business is to cash flow the offset but it is willing to provide a small amount of gap financing, as it did with Kill Me Three Times, secured against a sale to France. Due to start shooting next week, Sucker is backed by Screen Australia and produced by Robyn Kershaw and Jason Byrne.

Chessell co-wrote the script with Lawrence Leung, based on the latter’s play. According to its website, the fund aims to provide wholesale investors with a strong yield from an alternative fixed interest product. The fund will consider taking positions in film, television and documentary productions but the initial focus is on feature films where substantial Government equity is already committed. All monies returned by the producer offset are assigned to the fund and are secured by a suite of production funding and security documents.

More Here: http://if.com.au

Don Groves. 20/3/14