Writer-director Daniel Adams and music producer Mike Flanders have teamed to launch Spiderworx Media, a $50M fund to produce movies during the next several years. The venture’s first project will be An L.A. Minute, a satire written by Adams and National Lampoon alum Larry “Ratso” Sloman.

Flanders, former head of A&R of Arctic/BMG Australia and now a Nashville-based music producer, said he raised the capital for the new company through his previous investors in the music publishing world. Adams will serve in the creative end of the business, directing most of the projects. Flanders will produce every project.

“We are fully financing all of our films,” Flanders said of Spiderworx, which also will serve as a P&A fund and music purblisher, “and are now actively making offers to actors for An L.A. Minute, and are looking forward to creating a full slate of films.” Adams described An L.A. Minute as “satirical look at fame, success, the star-making machinery and the karma that attaches to all those who worship at the altar of celebrity,” according to Adams.

Spiderworx recently signed a deal with Hyde Park International, a division of Ashok Amritraj’s Hyde Park Entertainment Group, to exclusively represent international sales. Veteran entertainment attorney, producer nd author Harris Tulchin has been named legal and business affairs counsel to Spiderworx and will serve as a producer on each project as well.

Adams’ credits include writing and directing 2009’s The Lightkeepers, starring Richard Dreyfuss and Blythe Danner, and 2008’s The Golden Boys, starring David Carradine, Bruce Dern, Rip Torn, Charles Durning and Mariel Hemingway.