Incognito Pictures, led by former PayPal executive Jack Selby, has launched with $50 million in financing and a long-term distribution deal with the Weinstein Co. The plan is for a slate of five to six films a year budgeted at $10 million or less, with the focus on “creating intelligent, genre-agnostic films with worldwide appeal,” the companies said in making the announcement today. Selby will be chairman and veteran producer Scott Stone will be CEO. “What makes Incognito unique is that we have secured significant permanent capital which historically has been applied to films at higher price points,” Selby and Stone said. “Instead, we have a unique opportunity to fill an underserved market of more modestly budgeted films with specialized content that appeals to audiences, both domestically and abroad.” The Weinstein deal includes foreign sales and domestic theatrical releases. An announcement about the initial slate is expected in February.