A star is born.

• Author: Oliveira, Viviane
• Position: American investments in Latin American film production - Art

Latin American cinema, normally operating on shoestring budgets, is getting a nice fat check from Hollywood: US$50 million. Constantini Films, headed by Eduardo Costantini and famed producers Harvey and Bob Weinstein, founders of Miramax, will work together to bring the region to the silver screen, and vice versa.

The new company will invest in movies filmed in Latin America, be they in English, Spanish or Portuguese. "We are going to take advantage of Latin America's low production costs and film in natural settings," says Constantini, who will manage the fund. It has already purchased Cronica de una Fuga, a film directed by Argentine director Adrifin Caetano. It also bought Tropa de Elite, written by Braulio Mantovani, author of the widely acclaimed Brazilian movie City of God, and directed by Jose Padilha. Filming begins this month.

Financially, Constantini and the Weinsteins are not alone. Investment firm Kelly Park Argentina, a subsidiary of New...