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Elizabeth Avellan co-founded Los Hooligans Production with Robert Rodriguez when the two began their first feature film project, El Mariachi, together in 1991. That film, which won the Audience Award at the 1993 Sundance Film Festival, launched her production career.

Since then, Elizabeth has produced numerous films and as Vice President of Troublemaker Studios, has played a primary role in developing Austin, Texas as a thriving film community. Avellan co-produced Desperado, written and directed by Rodriguez and starring Antonio Banderas and Salma Hayek. She also co-produced From Dusk Til Dawn, written by Quentin Tarantino, directed by Rodriguez and starring George Clooney, Harvey Keitel and Juliette Lewis. In 1997, Avellan along with Pamela Cederquist and Rana Joy Glickman produced Real Stories of the Donut Men, a dark comedy, written and directed by Beeje Quick, which won the 1998 Best Comedy Feature at the Long Island Film Festival.

Avellan's producing credits continued with The Faculty, written by Kevin Williamson and directed by Rodriguez, and the hit Spy Kids trilogy of popular family adventures. She also executive produced In and Out of Focus, a documentary about balancing motherhood and career in the film business. In 2004 Avellan produced Rodriguez's Once Upon a Time in Mexico starring Antonio Banderas, Salma Hayek, Johnny Depp and Mickey Rourke. Her most recent ventures include executive producing the film noir crime movie Frank Miller's Sin City which was released in April of 2005, as well as the Venezuelan thriller Secuestro Express directed by Jonathan Jakubowicz, set to be released August of 2005.

Avellan was born in Caracas, Venezuela where her grandfather, Gonzalo Veloz, was the pioneer of commercial television. At the age of thirteen, she moved to Houston, Texas and later graduated from Rice University.