Investors light $5 million equity fire under Ignite

Checchi, Slutsky part of financial group

By BENEDICT CARVER

Indie producer Ignite Entertainment has received an equity injection of more than $5 million from a number of private investors, as it accelerates its development and production activities.

Former Democratic California gubernatorial candidate Al Checchi and investor Kenny Slutsky, both of whom backed a recent bid to revive character franchise Harvey Entertainment, are the group's principal members.

Ignite partner and founder Michael Burns said the company would use the funds for development and production purposes. Among other projects, Ignite is developing "Getting Over Allison," written by R. Lee Fleming Jr. ("She's All That"), for Dimension Films.

"Combined with our pre-existing credit facility and current cash position, this investment will allow Ignite to continue to grow while we move forward with our production schedule," said Burns, who is partnered in Ignite with execs Marc Butan and Leanna Creel.

Ignite, which Burns launched in January 1997, has thus far produced Morgan J. Freeman's "Desert Blue," starring Brendan Sexton III, Casey Affleck, Kate Hudson and Christina Ricci, and "Girl," starring Dominique Swain, among other pics.

The company is in post-production on the Jennifer Love Hewitt starrer "The Suburbans" and teen comedy "But I'm a Cheerleader," starring Natasha Lyonne and Clea Duvall.

Burns, Checchi and Slutsky were part of a group of at least five investors who backed a successful $17 million bid, headed by Roger Burlage, to seize control of Harvey in April. Harvey owns characters such as Richie Rich and Casper the Friendly Ghost.