Reliance Big Entertainment, the media and entertainment arm of Reliance ADA Group, on Sunday made its foray into Hollywood, with the announcement of development deals with celebrities including Angelina Jolie, Julia Roberts, Brad Pitt and Nicolas Cage.

Reliance Big Entertainment said that it will provide development funds to eight Hollywood production houses. The company did not reveal the capital it plans to invest in this venture, but sources said the investment would be in the range of $500 million to $1 billion.

"Reliance Big Picture can help advance the goals of several important creators in the global industry. I expect to have further such development deals in the near future," Reliance Big Entertainment Chairman Amit Khanna said.

The development funds would be provided to eight creative forces in Hollywood including Nicolas Cage's Saturn Productions, Jim Carrey's JC 23 Entertainment, George Clooney's Smokehouse Productions, Chris Columbus' 1492 Pictures, Tom Hanks' Playtone Productions, Brad Pitt's Plan B Entertainment and Jay Roach's Everyman Pictures.

Reliance Big Picture, the division of Reliance Big Entertainment sees the development deals as the first major building block towards creation of a new-generation media company.

The company said for any greenlit project, Reliance Big Entertainment would facilitate full creative and fiscal freedom for the filmmakers.

The deals would also attract suitable productions, with appropriate incentives to India, the company added.