The EU-backed European Investment Fund (EIF) has invested €25m in the latest fund from IPR.VC, the Finland-based fund manager.
The €25m ($26.2m) goes into IPR.VC’s Fund III, which has now raised over €100m for film and TV productions.
The EIF commitment is designed to help Fund III attract additional financial backers and reach its €120m target by its closing on March 31, 2025.
EIF is part of the European Investment Bank (EIB) Group, which aims to support small and medium-sized European businesses access finance.
The transaction comes under the European Commission’s InvestEU MediaInvest equity investment instrument, that aims to mobilise private investors and support €400m total investment in the European audiovisual sector between 2022 and 2027.
“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,” said EIB vice president Thomas Ostros.
“Rather than the outdated cliché of investing in ‘passion projects’, this major commitment from the EIF underlines the growing and enduring value of premium film and TV content in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.”
IPR.VC is headquartered in Finland with an office in London. The firm has financed over 50 international film and TV productions, and has slate deals with companies including A24, mk2 Films, XYZ Films and Finland’s Gigglebug Entertainment.
Films backed through its A24 deal include The Legend Of Ochi, Civil War and the upcoming Eddington and Mother Mary; while titles through the XYZ partnership include Blackberry and Skywalkers: A Love Story.
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