David Garrett, co-founder of Summit Entertainment, and Constantin Film are launching a new company, Mister Smith Entertainment. 

Mister Smith will be operational in time for the Cannes Film Market this month, and will focus on financing, co-financing and licensing "mainstream" films. 

"Our goal is to recreate the successful distribution structure we forged in the early days of Summit Entertainment, building upon core strategic partnerships with the very best producers, filmmakers and distributors around the world," Garrett said in a statement. 

Garrett (pictured left) also served as president of Summit International, which is best known for its "Twilight" film franchise and was recently acquired by Lionsgate. He will serve as Mister Smith's chief executive officer. 

Constantin is a German film production and distribution company that has been involved in such films as "Resident Evil" and "The Vow." As part of the joint venture, the company will provide capital for international licensing and distribution. 

In addition to Garrett, two former Summit executives Ralpho Borgos and  Annasivia Britt will fill out the executive team. Borgos will serve as executive vice president, international licensing and distribution, and Britt will be president, marketing and publicity.

The company will operate out of London.