The Together Fund will invest in independent producers to support growth
A European Union (EU)-backed fund has launched that aims to support regional programming by investing in independent production companies.
The Together Fund is managed by Paris investment company Axio Capital and has been co-founded by former European Producers Club chief Alexandra Lebret, who stepped down in January, and Axio partner Antoine Bodet.
It is being launched via the EU’s MediaInvest scheme, which is managed by the European Investment Fund (EIF) and was rolled out in 2022. It aims to invest private funds of around €400m over five years into the European film and TV sector.
The Together scheme will invest directly in established European indies – taking a minority stake – and operates on a decade-long cycle to help companies expand and maintain independence.
The fund currently stands at almost €60m, including a €25m commitment from the EIF, with investments of around €4m per company expected.
Money can be accessed for myriad uses, from expanding teams to buying IP, and applications from around 40 companies are already being considered.
The fund, which will skew towards scripted production companies, is expected to grow considerably further and additional partners are due to be unveiled in the coming months.
Together claims to be the first equity fund focusing on TV and film companies in Europe.
Other equity funds exist, such as Finland-based IPR.VC Fund III, which is also backed by MediaInvest, but it is skewed towards backing slates of projects.
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