Magic Lantern Entertainment has concluded a $10m development funding deal with TF2 Ventures via its Innovation Entertainment label for up to 20 films over the next three to five years.

First to go is the live-action-CGI comedy adventure Bad Kitty that is in pre-production and is based on a screenplay by Tom Ruegger.

“Our primary criteria will be that all the films on our slate are pre-sold in the market – be they a remake, sequel, adaptation of a book, comic book, graphic novel, musical play, video game or toy property,” Magic Lantern president Jeff Segal said.

“Magic Lantern/Innovation fulfills all of our requirements for funding: a professional and experienced management team with great track records picking commercial titles,” TF2 Ventures principal Jamison Stewart added.