A new capital capital, based in Paris, dedicated to supporting the scale of European independent manufacturing companies, is launched.
The Banned Fund together, the Fund has an initial capitalization of € 58 million ($ 66 million), with ambition to rise to € 100 million ($ 113 million) and is described as the first stock fund focused purely on independent film and television companies in Europe.
Ever since the deadline
Today’s official start follows the signing of an agreement by representatives of the European Investment Fund of the European Union (EIF) in Paris on Friday, engaging € 25 million ($ 28.5 million) in the Fund. Details of other investors must be announced in May.
The EIF invests in the Fund for together under its Mediainvest instrument, established in 2022 as part of the media and audiovisual plan for the European Union’s actions of € 400 million.
“Not only 25 million, but also the EIF seal,” said Vincent van Standsel,The head of the EIF portfolio, adding that his participation will provide and cause additional investments. “We are the largest investor in equity in Europe. We have a 30% market share and we know that some investors do not invest if the EIF is not on board.”
The new fund is intended to help independent manufacturing companies to scathing and strengthen their market presence, while maintaining their independence, before the increasing domination of integrated audiovisual groups.
Together, aims to change this dynamic by acting as a capital growth fund, supporting companies that have already demonstrated their ability to provide high quality content.
Focusing primarily on exclusive content companies is expected to be around 4 million euros ($ 4.5 million), which means that at least 25 companies should be able to benefit from the fund.
Runing under the auspices of the private company Axio Capital, the fund is the birth of co-directors Alexandra Lebrett and Antoine Bode.
Lebret has been the managing director of the European Producer Club (EPC) for 23 years, representing the interests of about 185 prominent manufacturers from all over Europe before retiring this year. Her time in the EPC means that she has an extensive network in the European production scene and knows about his internal and external work.
Bodet is a partner at Axio Capital. He advised and invested in a number of French film and television companies through his career, including the creation of Prod, Federation Entertainment and Echo Studio, and is currently a member of the Anton board.
Prior to joining Axio Capital, he was CEO in Natixis Investment Bank, supported by private capital Alliance Entreprendre, where his investments in the media and entertainment include a federation and based in Paris international sales company.
The duo is already considering about 40 applications and expects to disclose the first investment of the fund of the Fund back in May.
Lebrett said investment decisions will be based on the company’s overall vision and business plan for the future, not on individual projects or acquisitions.
“The peculiarity of the fund is that it is based on minorities,” Lrebret said. “We are the independent solution for independent growth producers. This is our main line,” she said.
Bodet said the fund’s money they have injected into companies by taking a share of minorities can be used for different things from hiring new staff, to the development of IPS and related costs, such as buying book rights or paying writers to develop new ideas.
Both co-directors have emphasized the fact that while the Fund is based in Paris, its focus will be pan-European, with Lebret noting its strong ties with territories manufacturers such as Eastern Europe and the Baltiics, as well as France.
Lebret said the fund was caused by the fact that while the independent European production sector stabilized after the destruction caused by the pandemic and the end of the peak television era, it remains highly fragmented at a time when the content of content is increasingly concentrated.
Another specificity of the fund is that, unlike traditional property funds, together it will offer practical strategic support from a specialized team led by Lebret and Bodet to provide market understanding and financial guidance.
The long-term mission is to create a more structured and sustainable independent manufacturing sector in Europe, capable of competing globally. The Fund has a 10-year life, with a five-year investment period, followed by a five-year exit strategy.
“The idea is to try to develop the ecosystem, as as you know … compared to other markets like the United States, we are far behind,” said Van Steensel on EIF.
“The importance of preserving some sovereignty in Europe cultural sovereignty is increasingly important,” he continued. “If you put it in the context of what is happening today, sovereignty is not only a matter of protection, but it is also a cultural issue.”
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