Former Cinetic Media co-founder Matt Littin has launched ErGo Media Capital in New York.
Working alone or alongside strategic partners, the entertainment and media investment company will provide venture capital and private equity funding to film, video game, music, television and new media firms from start-up to growth to expansion.
ErGo Media Capital aims to provide up to $15m in equity per transaction and will consider slate financing and p&a deals, and merger and acquisition transactions. Littin said he would consider single picture and video game financing as long as there was North American distribution in place.
It is backed by ErGo Ventures, a private investment vehicle with diverse holdings in aerospace, food and wine, real estate and technology.
“With revolutionary changes taking place in technology and consumer behavior, and a historic recession further pressuring traditional business models, the entertainment and media landscape is being reshaped,” Littin said.
“The company is positioning itself at the leading-edge of these changes, providing risk capital to innovative companies at a moment when financing is relatively tight. It’s an exciting moment to be launching our firm.”
Littin spent ten years at Cinetic Media and its predecessor Sloss Special Projects. Littin’s primary focus at Cinetic was leading the company’s film finance division and he was instrumental in brokering corporate deals such as Cinetic’s output deal for Canadian distribution with Robert Lantos’ Maximum Films (now part of E1), and Cinetic’s consulting arrangement with financier CinemaNX