Exchange Peaks Film Capital will finance its second film after selecting the Jean-Claude Van Damme action film Swelter.

The fund was announced several weeks ago as a joint venture between Los Angeles-based sales and financing company The Exchange and Alan Simpson’s Denver-based Grand Peaks.

The Exchange President Laura Ivey runs the joint venture, which is set up to take part in all forms of production financing.

The first beneficiary of the fund was The Exchange’s previously announced film The Last 5 Years.

Swelter is scheduled to commence shooting at the end of February.