Greek ship-owner Paris Kasidokostas-Latsis has set up Luxembourg-based Hercules Film Fund, which plans to bring European investors to Hollywood to finance three to five wide release films a year.
Terry Dougas’ production company Rhea Films will be the producing vehicle for films financed by Hercules, the first being Doug Liman’s Mena starring Tom Cruise, which Christopher Woodrow’s Vendian Entertainment co-finances.
Kasidokostas-Latsis (pictured at right), Dougas (pictured at left) and Jean-Luc De Fanti will serve as executive producers on the Imagine, Quadrant Pictures and Cross Creek Pictures production, which commenced production in Atlanta today.
Film finance veteran Joe Cohen served as an advisor to the creation of the fund and Sky Moore served as legal counsel.
Hercules and Rhea Films will operate independently from 1821 Media, the production and finance company previously established by the partners.
1821 Media’s slate includes William Wheeler’s Untitled Kyriakides Project for Disney and Mayhem Pictures and The Odyssey for Warner Bros, which David Heyman is producing.
The company is in post on Gavin O’Connor’s Jane Got A Gun starring Natalie Portman and Paul Weitz’ Grandma starring Lily Tomlin.