Submarine launches fund and label

Torpedo aims at auteur-driven films

Submarine Entertainment and Dakota Group are launching Torpedo Pictures, a fund and label to develop, finance, produce, and distribute a slate of low-budget, high-concept films in the sci-fi, horror and thriller genres.

Deal was announced Tuesday at Cannes by David Koh, Dan Braun and Josh Braun of Submarine Entertainment along with Stanley Buchthal of Dakota Group.

Torpedo plans to focus on “auteur-driven” directors with Dakota Group financing pictures along with foreign partners in the $500,000 to $1.5 million range. Submarine will represent domestic and foreign rights and will find partners to distribute.

The venture plans to announce its first slate shortly along with output and foreign partners.

Submarine has been active in documentaries (“Bill Cunningham New York,” “Buck,” “Cave of Forgotten Dreams,” “Man on Wire”) along with selling, representing and finding distribution partners for such movies as “Black Rock,” “Winter’s Bone” and “Your Sister’s Sister.” It also represents the comicbook properties Creepy and Eerie.

Dakota’s projects include “Marilyn Monroe’s Fragments,” “Marina Abramovic: The Artist Is Present” and “Sketches of Frank Gehry.”