In a pre-Cannes move, merchant bank Pelican Point Capital Partners and indie producer Cassian Elwes have formed Golden Gate Media to finance films with budgets in the $2 million to $15 million range.

Golden Gate will prduce two to five films a year. Ike Suri and Elwes will be co-CEOs.

Elwes has been involved in recent years with assembling the financing for “Dallas Buyers Club,” “Lee Daniels’ The Butler” and “All Is Lost.” He’s the former chief of William Morris Independent and arranged financing for over 250 films during his tenure.

Suri is currently the co-founder and co-CEO of Pelican Point Capital Partners. “The opportunity to partner with Cassian on top-quality content and to attract the best and most capable talent to our projects was so compelling in the films we have pursued to date that Golden Gate was the next step in our relationship,” he said.

Suri and Elwes co-produced and co-financed the reboot of “Cabin Fever.”

Source: Cannes Cassian Elwes Golden Gate Media | Variety