A new specialist financing company called P2 Bridge Limited (P2) has been launched as a joint venture between Prescience Film Finance and Perpetual Media Capital.

The new company will provide bridge finance to independent film productions with budgets between US$5m and US$40m.

Prescience is run by Tim Smith and Paul Brett and Perpetual is headed up by Ben Tustin and advised by Alastair Burlingham and Steve Robbins.

The company will be providing short-term, risk-managed bridge finance to independent projects worldwide that require pre-production or production cash-flow facilities before the closing of their permanent finance. 

P2 will also provide bridge financing to projects receiving permanent finance from Aegis Film Fund or Prescience via equity funds and production partnerships.

P2 is currently financing its first project with the UK’s Ealing Studios.