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EXCLUSIVE: Adam Tenenbaum, one of the executive producers on Stephen Gyllenhaal’s So B. It, which stars Alfre Woodard, Cloris Leachman, Talitha Bateman and John Heard and opens in October of this year from Good Deed Entertainment, is launching private equity firm — Outside the Box Film Partners. It has already pegged its first two projects. The firm is financing one film and hopes to finance two films the following year with budgets between $2 million-$7 million.

“Because we are using private equity, we can develop and produce films the way we want to make them and don’t have to follow a formula,” Tenenbaum told Deadline. Tenenbaum has a background in putting together funds for investments via private-equity real estate deals. His first of many films he hopes to help finance is So B. It. His father Jerry Tenenbaum, since retired, was a longtime editor at Entertainment Tonight.

The first film they are looking to produce is The Hard Way Out, which was optioned by Outside the Box. Written by Brad Mirman, the screenplay tells the tale of a wrongfully convicted man who returns to his small town in Texas and gets involved with a vulnerable, free spirit. Partnering on the project will be So B. It producer Orien Richman.

Outside the Box also just bought Pure Speed, a treatment that will developed as directing debut for veteran VFX Supervisor Rif Dagher — best known for his work on Iron Man, G.I. Joe, Pirates of the Caribbean and Harry Potter. The project is described as “a high impact racing film for the drifting fanbase.” The plan is to make a war film embodied in a racing film and they are eying a production date next year, first quarter.

The Hard Way Out was sold by Gersh and the deal for it was negotiated by Janis Nelson at Cowan Debeats Abrahams and Sheppard.