Harvey Weinstein may be distributing more films, thanks to a distribution deal with newly formed Catalina Capital and its $50 million film finance fund.
The Weinstein Company will have a first look option on domestic distribution and international sales on Catalina funded projects.. The fund has already selected its first project, an unnamed title currently in development.
The fund will be a financier to both studio and independent films.
Larrikin Entertainment, founded last year by former Dune Entertainment Chairman Greg Coote and private equity executive David Calvert-Jones, announced the formation of Catalina Capital on Tuesday.
Venture capital veteran Larry Lopez will lead the company’s finance division and be responsible for raising the capital with bases in California’s Silicon Valley and the center of Australia’s mining industry in Perth, Western Australia.
“There is a need in the marketplace for a well-informed, independent fund,” Coote said. “With the tremendous expertise that the Weinstein Company brings to the table, I predict a bright and profitable future for the Catalina Capital Fund.”
Calvert-Jones noted that Weinstein is on Catalina Capital’s greenlight committee, which allows the fund to “jumpstart” its portfolio of films in a positive direction for all investors.
Weinstein said in statement: “Having known Greg for nearly 30 years, I’m pleased to provide the Catalina Capital Fund with access to the Weinstein Company’s worldwide leadership in the film business, along with my personal expertise in reviewing the projects that are analyzed by its greenlight committee.”
TWC’s top grosser in 2013 has been “Lee Daniels’ The Butler” with a domestic cume of $115 million. Its awards contenders include “Philomena” and “Mandela: A Long Walk to Freedom.”