SLR Digital Finance funded a $5 million working capital facility for Engine Vision Media, the owner of Los Angeles Magazine, Orange Coast Magazine and Pasadena Magazine. The facility will support the company’s working capital needs and to fuel growth as it expands its publication footprint nationwide and increases its efforts in digital, podcasts and long-form content.
Engine Vision Media formed in 2022 to acquire Los Angeles Magazine, Orange Coast Magazine and Pasadena Magazine, and launched Los Angeles Magazine Studios. The Engine Vision Media team updated the publications’ digital presence and expanded the magazines’ print distribution nationwide through a partnership with Barnes and Noble.
“We were able to structure a facility that provides Engine Vision Media with the upside and flexibility they need to carry out the digital transformation of their publications and to scale their print publications with retail partnerships nationwide,” Jeffrey Austin, senior vice president of business development at SLR Digital Finance, said. “We’re thrilled to work with Mark Geragos, Ben Meiselas and the rest of the Engine Vision team.”
“SLR Digital Finance has extensive experience financing digital media companies,” Meiselas, who is the co-founder of Engine Vision Media, said. “In our first year of ownership, we invested millions in transforming these historic publications. As we look to 2024, our partnership with SLR Digital will accelerate our growth potential in the digital space and development of long-form content through LA Mag Studios.”
