Spanish media conglomerate Womack Group’s Mira Entertainment Capital and fund manager Anta Asset Management have launched a venture capital fund that aims to raise €80m to invest in the Spanish and Spanish-speaking audiovisual sector.
The Mira Anta Media Capital Fund I will primarily target high-growth Spanish SMEs in sectors such as development, production, distribution and ancillary services.
It will look to take equity stakes in companies, and will also provide financing for productions in the form of loans and gap financing.
As well as traditional film and TV productions, the fund’s focus will include vertical fiction for mobile, virtual production, XR technologies, AI applied to audiovisual, immersive solutions and advanced production services.
The fund is targeting a net annual return of 12%-14% with a six to eight year investment horizon.
The fund launch comes amid a broader push to expand the financing tools of Spain’s audiovisual sector. The Spanish government’s public investment body SETT (Spanish Society for Technological Transformation) has announced three financing deals in recent months: €44m in Culture CAP7 to finance audiovisual productions; €4.9m in Moby Dick Film Capital, and €2.3m in Lazona Audiovisual Hub, co-financed with LaZona and Elamedia Estudios.
Fernando Morales, CEO of Anta Asset Management, said: “The launch of Mira Anta Media Capital Fund I responds to a very clear opportunity: a sector with solid structural growth but significant limitations in access to financing. Our goal is to provide smart, specialised capital that understands the logic of the audiovisual industry and accelerates high-potential projects.”
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