CAIN to bring artists, investors together
Network will host six investment pitch meetings a yearLONDON -- It's all about who you know when looking for cash to fund film, television, theater, music or live events, but the launch of the Creative Arts Investment Network is aiming to make it easier to contact high net worth individuals who have money to invest in the arts.
Unveiled Thursday, CAIN aims to connect potential investors with creative arts companies and projects in the U.K. looking for as much as 2 million pounds ($3.9 million) in development or production financing.
CAIN is set up to act as a broker, with founder and managing director Nicki Hattingh using her black book of more than 25 monied "business angels" to front the cash for any company given the OK. Hattingh is a former commercial development exec and fundraising guru.
Hattingh has assembled reps from Ingenious Media, Paramount Pictures, the South East Media Network, Clive Chenery Theatre Production & Management and Peter Jones TV to help her vet submissions.
Hattingh told The Hollywood Reporter that the five companies helping advise on the merits of applications also might end up investing. "It adds prestige to the process and reassures my network of angels, having that caliber of advisers on board," she said.
CAIN hopes to host six investment meetings in London each year, with four or five creative arts companies pitching to investors at each event. The first should take place in September or early October, Hattingh said.
Propositions must demonstrate that 50% of the proposal is creative and 50% is a clearly defined business proposition with real potential for investment return on investment.
"There is a wealth of creative talent in the U.K. which often struggles to find appropriate funding, particularly in the early and preproduction stages of the company or project development," Hattingh said.