The Solar Entertainment Group co-founder has launched subsidiary Solar Media Capital and brought on his former colleague at Comerica Entertainment Group Andrew Robinson to run the new operation.
Solar Media Capital will take a range of financing positions in projects including gap, tax credits, foreign sales, bridge lending, P&A funding and distressed or special situations lending.
Underwood launched Solar Entertainment Group earlier this year with partner, Romanian industrialist and filmmaker Bobby Paunescu.
Solar’s investors and strategic partners are Edward Lawson Johnston, founder of the London-based merchant bank LJ Group, the New York-based Shu family and Paunescu.
“Solar Media Capital is an integral component of what we are building at Solar Entertainment Group,” Underwood said. “Now we can not only provide filmmakers with production services at our facilities in Romania, but also provide them with all their capital needs.”
“Solar Media Capital will provide filmmakers with nimble, creative and comprehensive solutions to their financing needs,” said Robinson. “I’m looking forward to continuing to work with and expand on the great relationships I formed through my years at Comerica.”