While the long-established Kickstarter recently reached a record-breaking 1 billion $ in pledges, new crowdfunding platforms are just launching.

A particularly interesting one is Passion First Funding Portal, addressing the film industry.

What’s particular about it?

It’s the first crowdfunding platform designed after the 2012 newly-voted regulation JOBS Act (Jumpstart Our Business Startup Act) in the US. Unlike existing platforms of its category, it targets experienced film and documentary makers and connects them to investors, not donators. While accredited and nonaccredited investors can participate, the outspoken goal of the platform is to attract the former. In this sense, it’s perhaps less experimental and more tuned towards the traditional financing model; film ideas and scripts furthermore get vetted before reaching investors. Also, given the amplitude of the platform and current regulations, invested funds will be handle with a third-party such as a bank. The financial target of a campaign cannot exceed 1 million $ which makes the platform fit for funding short productions or partly cover the costs of features.

The platform will be open to the audience later this year. Its initiator – Richard Guay – is an independent film producer for almost 30 years. If you want to read more about his motivations and plans for Passion First, here’s an interview with him in Tribeca.

In the coming year, it will be more and more interesting to observe the rise of investment crowdfunding for the arts. Can performing arts or other visual arts find similar models?