Duo will serve as co-heads of the Los Angeles-based company, which is already at work on Dee Rees’ upcoming project “B.O.L.O.,” and plans to announce more titles soon.
A “growing group of financiers” will back the new venture, but a rep for the pair declined to specify how much money would back the initial launch.
Company says it will offer equity, gap and debt to help finance 10 to 12 films annually.
Barnum and Elwes previously partnered on JC Chandor’s “Margin Call,” one of the first successful day-and-date releases.
Elwes and Barnum are also executive producers on JC Chandor’s new film “All Is Lost” starring Robert Redford, which is preeming at Cannes.