Sequoia bets on indie films with $100mn Mubi fundraising
Sequoia Capital is hoping to cash in on rising global demand for art house cinema after leading a $100mn investment in Mubi that values the indie streaming service at $1bn, marking a rare foray into film and media for the Silicon Valley venture capital firm. The cash from Sequoia, best known for its early bets on high-growth tech companies including Google, Apple and YouTube, will help Mubi build out its global distribution network and invest in new films. The fundraising marks a vote of confidence for the 18-year-old company, which has recently undergone a big transformation from niche indie streamer to Hollywood player. Andrew Reed, a partner at Sequoia who led the investment, said the firm was banking on untapped global demand for highbrow films, including those being bankrolled by Mubi. “We’re a Silicon Valley investor, so the question is, how many people around the world will projects like this resonate with? Our opinion is that this is going to resonate with a lot more people tha
Explore this link on the map →