EXCLUSIVE: Venture capitalist and entrepreneur David Carrico has launched Valparaiso Pictures, a Los Angeles-based film and TV development, production and finance company. It already has its first project in the works in After Perfect, a feature film based on Christina McDowell’s 2016 memoir that is being adapted by Elizabeth Chomko and produced with Matt Reeves’ 6th & Idaho Productions and Joshua Thurston.

Carrico is co-founder of music and entertainment tech consulting firm CMG LLC among other companies, and has invested in more than 20 startups. He has brought aboard as director of development Echo Lake Entertainment’s Bobby Hoppey, who oversaw Echo Lake’s film slate and worked with its management clients.

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“We’re so excited to be launching Valparaiso with After Perfect and the talented Elizabeth,” Carrico said. “It’s an exciting time in the media industry, and we’re thrilled to be here to champion our fellow filmmakers, whether it’s finding untold stories to bring to the screen, or enabling burgeoning writers and filmmakers to take creative risks.”

Chomko wrote and and made her directorial debut with What They Had starring Hilary Swank, Michael Shannon and Taissa Farmiga. The Bleecker Street pic is having its international premiere next month at the Toronto Film Festival ahead of an October 19 release. The book is a cautionary tale that follows Christina, who grew up in an affluent Washington, D.C. suburb living a life of luxury before it was brutally stripped away after her father was arrested on fraud charges.

Foundry Literary + Media handled the book rights deal on behalf of McDowell.

Valparaiso is developing other projects including adapting shorts into feature-length films and TV projects like Lucas Amann’s Peopling, Stranger Things writer Kate Trefry’s How to Be Alone and James Gallagher’s Love starring Susan Sarandon and Boris McGiver.