Nawaf Alghanim, a member of the Alghanim founding family of Kuwait, has formed a new film financing and production company, Al-Ghanim Entertainment. With offices in Los Angeles and Kuwait, the company says it will produce two to four films a year with budgets up to $15 million. The first project in the pipeline is The Girl In The Photographs, which horror legend Wes Craven is executive producing. The film, to be directed by Craven’s protégé Nick Simon, is in the casting stage.

“With the inception of this company, we wanted to build a bridge between East and West that not only nurtures talent and fosters the creative vision, but creates content that inspires as well as entertains global audiences,” said Alghanim, who is the CEO of the new company. “We will remain grounded with our projects, yet will always be open to explore the dynamic new media landscape that is forming in the marketplace in various parts of the world.”

Joining Alghanim at the new venture are entertainment industry veterans and company partners Andrea Chung, Krystal Tiffany Vayda, and Brandon M. Vayda. Chung is a producer on Benson Lee’s Seoul Searching, which is premiering at the Sundance Film Festival on January 30.

Chung and the Vaydas will work out of the company’s Los Angeles offices. Chung also produces and advises for Bowery Hills Entertainment, where she’s produced several film and TV projects, including Passion Play, starring Mickey Rourke and Bill Murray, and IFC’s The Damned, starring Peter Facinelli and Sophia Myles.

Alghanim, who’s in his early 30s, is said to be a big fan of genre films and Hollywood movies. An industrialist, he most recently worked as a civil engineer for Gulf Consult in Kuwait, and has family ties to the Kuwaiti government, as well as to such international corporations as Alghanim International, Ali Alghanim and Sons Group, and Alghanim Industries. His family has been in the trading business since the 18th century. After Kuwait received its independence, Alghanim’s grandfather Abdulatif Alghanim was chosen to lead the committee that wrote the constitution of Kuwait and formed the first electoral parliament for an Arab country in the Middle East.

Brandon Vayda is a Hollywood veteran from in front of the camera, having previously worked on the updated version of the CW’s 90210. He most recently worked in private equity and currently sits on the board of directors for VADI, his family’s Hong Kong-based luxury hotel outlet. Krystal Tiffany Vayda has over 15 years working in the film and television industry. A former child model/actress, she currently serves as a global brand ambassador for her family’s hotel business.