Injection from the European Investment Fund will support new TV and film projects
Finland-based fund manager IPR.VC has secured a €25m (£20.5m) injection from the European Investment Fund (EIF), which will be used to finance TV and film productions.
The funding is part of the strategy of the EIF, which is part of the European Investment Bank (EIB) Group, to support Europe’s small and medium-sized enterprises (SMEs) by helping them access finance.
The goal is for EIF’s investment to help boost investments in a sector that they say has traditionally faced market obstacles to financing. It also means the EIF has so far committed around €75m to three investment funds that will invest in EU production and distribution companies, since its first in 2023.
The EIF investment has been made into IPR.VC’s Fund III, which now exceeds €100m for the production of film and TV. It aims to raise €120m in total by its closing on 31 March.
The Helsinki-based fund manager has invested in TV and film content since 2015 and to date has raised €200m mainly from Nordic investors across three funds.
It has financed over 50 productions across Europe and globally, partnering on long term slate-wide collaborations with studios such as XYZ Films and mk2 Films, as well as A24, with which it has produced Mother Mary and The Legend of Ochi.
“Our investment in IPR.VC Fund III underscores our commitment to fostering innovation and creativity within the European audiovisual sector,” said EIB Vice-president, Thomas Östros.
“By supporting this fund, we are enabling European producers to retain intellectual property rights and bring high-quality content to global audiences, strengthening Europe’s cultural and creative industries.”
“Rather than the outdated cliché of investing in ‘passion projects’, this major commitment from the EIF underlines the growing and enduring value of premium film and TV content in Europe and globally,” said Tanu-Matti Tuominen, co-founder and head of investor relations at IPR.VC.
“Further, it illustrates the fast returns that portfolio diversification and non-correlation can bring to an investor’s alternative investments portfolio. As an investment it is both significant and timely.”
The transaction comes under the European Commission´s initiative known as the InvestEU MediaInvest equity investment instrument. It aims to mobilise private investors and support total investments in Europe’s audiovisual sector of €400m over the period 2022-2027.
IPR.VC Fund III is licensed by the Finnish Financial Supervisory Authority and will seek to finance a diverse portfolio of audiovisual projects with significant European participation.
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