The $14m ($7m) Wales Creative IP Fund is backing its first documentaries.
Among the first recipients is In Prison My Whole Life, directed by Marc Evans (Snowcake) and executive produced by Colin Firth.
The film follows an investigation into the trial and conviction of Mumia Abu-Jamal, a member of the Black Panther movement who is now on death row in Pennsylvania, for a crime he says he did not commit.
It includes interviews with Mumia, along with Snoop Dog, Mos Def, Noam Chomsky and Steve Earle.
The Welsh fund is managed by commercial funding company Finance Wales on behalf of the Welsh Assembly, which has previously invested in fictional films, television and new media projects.
'This is a significant move for the IP Fund into the genre of factual documentaries,' said Linda James, Fund Manager.
The Wales Creative IP Fund has now invested more than $6.5m (£3.2m)in five films, two television productions, a new media project and two factual documentaries since its inception in May 2005.
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