EXCLUSIVE: Steak and Rosé, the company run by Perfect producers Douglas Riggs and Tyler Payne, is teaming with Incandescent Productions, founded by The Brutalist producer Jiarui Guo, to launch an indie film fund.

The initiative is launching at the Cannes Film Festival, and has aspirations to finance between five and 10 films a year at $2-25M budgets. A spokesperson for the initiative said funding is in place, but declined to comment on the value of financing.

Steak and Rosé and Incandescent said they are looking to support projects with strong directorial vision, disciplined budgets, and clear pathways to distribution. The partnership aims to both finance and develop, working closely with filmmakers from early packaging through to production.

Steak and Rosé and Incandescent are partnering with Los Angeles-based Tunnel for post-production and VFX. Project submissions will be managed via New Hollywood, an AI-powered system that aims to make it easier for filmmakers to develop, produce, and post-produce movie projects.

“Our goal is to be a thoughtful capital partner,” said Payne. “We’re looking for projects where strong creative aligns with a clear, realistic financing and distribution strategy.”