Giving new meaning to the words “cold cash,” Ice Capital Corp. has launched itself as a New York-based finance company for film, publishing, interactive and music endeavors.
Ice will provide what it calls “intellectual property” loans in the $1 million to $50 million range, though it has the facility to bankroll bigger investments.
A few clients include Museum Masters Intl., which handles the estates of Andy Warhol, Keith Haring and Pablo Picasso; Software Publishing Corp.; and Wave Entertainment, a TV production and distribution company.
Ice chairman Marc Jaffe said the company uses the Bowie Bond Financing as a model for capital finance. The new financial asset class provides debt financing against future royalty and cash flows from intellectual properties, including film, TV, music, books and computer software.
He adds that Ice finds the cash through institutional investors and bank lines of credit.
“The key is that it focuses on intelllecual property owners, major talent and emerging growth companies,” Jaffe says.
Jaffe is chairman of the nascent firm with CEO Craig Moody, prexy Adam Blumenkranz and managing director Darren Blumenthal.
Jaffe says all four executives in the company had worked in creative media and intellectual property areas before moving into a financial services role. He says that gives them greater understanding — “unlike investment banks” — into the needs of start-up companies.
The company currently has offices in New York and Los Angeles with affils in Hong Kong and Australia. Plans are afoot to open offices in Europe as well.