Cosmopolis, celebrated Canadian director David Cronenberg's forthcoming film featuring Twilight star Robert Pattinson, has won over a prominent fan: Telefilm.

The funding body announced Thursday that it has invested $2.7 million into the project through its Canadian Feature Film Fund.

Telefilm executive director Carolle Brabant praised Cronenberg as "the definitive Canadian artist who, despite receiving many tempting offers to move to Hollywood, has remained in Canada to practice his craft."

Determining the funding amount

"When a producer applies to Telefilm, they submit a financing plan to us," Telefilm spokesman Douglas Chow told CBC News on Thursday.

"The amount we decide to invest in the film is based on two things: the producer's need, as outlined in the financing plan, and what we see as the commercial viability in the production."

Other major Canadian projects that have received Telefilm funding in recent years include Denis Villeneuve's acclaimed drama Incendies and Robert Lantos' adaptation Barney's Version.

"The investment for Cosmopolis is in line with our investment in similiar high-profile productions," Chow said.

She also noted that the film agency has supported his movies since the 1970s, calling him "an edgy auteur who constantly eyes new challenges, while all the while creating films that connect with mainstream audiences worldwide."

In turn, the Toronto-based Cronenberg thanked Telefilm for helping make his career possible.

"Their continuous support of my work since my early days as a filmmaker has allowed me to remain and work at home," he said in a statement.

Pattinson sightings

Robert Pattinson fans in Toronto have been on the hunt for sightings of the young actor, who arrived in town in May to shoot the "contemporary thriller" based on the Don DeLillo novel of the same name. Filming is set to continue in Toronto through mid-July.

A co-production between Canada and France, Cosmopolis chronicles an unconventional day in the life of a young, billionaire asset manager (Pattinson), who — despite a looming financial crisis — decides to cross Manhattan in search of a haircut. A presidential motorcade, public protests and a celebrity funeral snarl traffic for his stretch limousine, forcing him to deal with business and personal affairs from his car.

The international cast will also include Juliette Binoche, Paul Giamatti, Samantha Morton, Sarah Gadon, Mathieu Amalric and Jay Baruchel.