Versa Media Capital, a specialty finance company that provides production loan financing to creators of new film and television content, secured a $100 million financing facility from Crayhill Capital Management, an alternative asset management firm based in New York.

In addition to traditional subordinated production loans, such as mezzanine, gap and tax credit loans, Versa will be the first institutional lender in the industry that specializes in bridge financing. Bridge financing can provide timely capital for critical production costs prior to the senior bank or full production financial closing, including down payments for talent, preproduction costs and other early production expenses.

The firm was founded by industry veteran Jeff Geoffray and entertainment attorney Jeffrey Konvitz, along with Daniel Rainey, a private equity investor and attorney. Previously, Geoffray co-founded and ran Blue Rider Finance, a film financing company that set the standard for bridge loans in the industry.

Versa will be a source of institutional capital for producers who are working to meet the rapidly growing demand for new independent film and television content being driven by both traditional and non-traditional distribution channels, such as over-the-top streaming and other video-on-demand applications. Versa also works to structure and close the production financing, often acting as an executive producer to assist content creators in completing their films. The team expects to finance 15 to 20 projects per year.

“Versa Media Capital intends to become the go-to source of capital and expertise for independent film and TV content creators, and will provide the elements needed to put projects on the solid footing required to complete a permanent financing package,” said Geoffray. “In addition to capital, our support will include financial, legal and production expertise. We will collaborate with all the stakeholders – and their legal and financing partners – to bridge funding needs until a permanent financing solution is available.”

Qualia Legacy Advisors served as Versa’s financial advisor on the transaction.