Cassian Elwes, the prolific indie film producer and the former co-head of William Morris Independent, has joined with Pelican Point Capital Partners media arm Pelican Point Media to form Golden Gate Media, a company aiming to produce and finance pics in the $2 million-$15 million budget range. The plan is to produce 2-5 films a year. Important to note that in the five-year period since leaving William Morris, Elwes has been involved in bringing 40 movies to the screen.

“I have a number of strategic alliances and this is another one that I’m doing,” said Elwes. “I’ve already done four movies with these guys so we formalized the relationship.”

Elwes and Pelican Point co-founder and co-CEO Ike Suri will be co-CEOs of the new outfit. They recently teamed to co-produce and co-finance the reboot of Eli Roth’s horror comedy Cabin Fever. The other films that they are together on are: the thriller The Intruder; Pelican took a minority position on The Daughter of God starring Keanu Reeves, and they are working on a fourth one, yet to be announced.

With more than 250 films under his belt in some capacity, Elwes recently was a produce of the Oscar-nominated Dallas Buyers Club and Lee Daniels’ The Butler and has a raft of titles in various stages of development.

Pelican Point Capital Partners, based in Newport Beach, CA with an office in NY, is a merchant bank with investments in several sectors including media and entertainment.

“The opportunity to partner with Cassian on top quality content and to attract the best and most capable talent to our projects was so compelling in the films we have pursued to date that Golden Gate was the next step in our relationship,” Suri said.