Completion Fund
Financing specifically designated to cover the costs of finishing a film that has run out of money during production or post-production.
Definition
A completion fund is financing obtained specifically to finish a film that has exhausted its original budget, typically needed during post-production for editing, visual effects, sound design, color grading, and music licensing. Unlike initial production financing, completion funding addresses a project that already exists in some form but cannot reach a releasable state without additional investment.
Completion funds can come from specialized film finance entities, grants designated for finishing funds, private investors willing to enter at a later stage with lower risk, or distributors who advance funds against future revenue to ensure the film meets delivery requirements.
Why It Matters
Budget overruns are common in film production, and many promising projects stall in post-production when money runs out. Completion funding represents the critical last mile of investment that determines whether a partially completed film becomes a finished product or an expensive writeoff.
For investors and financiers, completion funding carries different risk profiles than initial investment. The project is tangible, footage can be evaluated, and the remaining budget is more predictable, making it attractive to investors who want to reduce uncertainty.
Examples in Practice
An independent film runs $200,000 over budget due to unexpected weather delays during the shoot. A film fund specializing in completion financing reviews the rough cut, determines the project has commercial potential, and provides the remaining funds in exchange for a senior position in the revenue waterfall.
A documentary filmmaker applies for a completion grant from a film institute after running out of funds during the two-year editing process. The grant covers the final editing, sound mix, and color grade, allowing the film to be submitted to major festivals.