Former Element execs launch Gambit

Banner to fund 3-5 pics per year

As film financing capital begins to trickle back into the independent space, former Element execs Brian Pitt and Adam Rosenfelt have partnered with equity financier Dylan Narang to create new production and financing shingle Gambit Films.

“A couple years ago, everybody left,” Rosenfelt told Variety. “I think there seems to have been a decent infusion of capital recently.”

Exec says the new company will look to fund annually some three to five commercial indies budgeted under $20 million. It’s a bigger-than-average slate for entities working in that financing range.

Much of Gambit’s strategy is modeled after Element, says Rosenfelt, who produced films including “Kill Theory,” “College” and “Mr. Brooks” under the previous banner.

Rosenfelt’s new venture, which opened its offices in January, will look for domestic distribution partners on a film-by-film basis.

Pitt, Rosenfelt and Narang will all be partners in Gambit, which is keeping details on current projects under wraps for the moment.

Pitt previously ran physical production at Element, where Rosenfelt was president and partner.

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