Financier Robert Friedland, producer John Penotti and Beijing-based media veteran Ray Chen have launched Ivanhoe Pictures, a film and TV finance and production company that will work on projects with “broad appeal to a global audience.”

The company will initially focus on building bridges between the US and China, India, South Korea and Japan. Beyond that, the company will pursue English-language and local productions in a number of markets.

Ivanhoe Pictures will be based in Hollywood with offices in Beijing and New York. Friedland will serve as chairman, Penotti as CEO and president and Chen as evp.

Penotti, president of New York-based GreeneStreet Films, will relocate to Los Angeles.

Friedland said, “My long-held love of film and storytelling is a natural complement to the vision shared by John Penotti and Ray Chen.

“nWith the depths of their professional experience and guidance, Ivanhoe Pictures will be at the forefront of a thriving international film production and distribution marketplace. We will leverage Ivanhoe Capital’s resources in support of this exciting, new creative endeavour.”