Leading European Film Funders Reveal Their Investment Priorities – The Screen Podcast

Why It Matters

By injecting long‑term equity into proven producers, the Together Fund can unlock scalable growth and diversify financing sources, strengthening Europe’s position in the global content market.

Key Takeaways

• Together Fund targets minority stakes in established European producers.
• First investment: Belgian company Caviar, known for Oscar‑winning work.
• Fund backed by EIF €25 M, aims to raise €100 M total.
• Private equity seeks growth plans, not short‑term turnover pressures.
• Scarce PE in European film/TV limits liquidity, confidence.

Summary

The Screen Podcast episode spotlights a new wave of private‑equity financing for Europe’s independent film and television sector, focusing on the launch of the Together Fund and the seasoned IPR VC. Hosted by Wendy Mitchell and Tim Dams, the conversation introduces Alexander Labret, managing director of the Paris‑based Together Fund, which aims to raise €100 million to back 12‑15 established production companies across the continent. Labret explains that the fund has already secured €58 million, including a €25 million commitment from the European Investment Fund, and made its inaugural investment in Belgian producer Caviar – a company with a global footprint and credits such as the Oscar‑winning *Sound of Metal*. The fund’s strategy centers on minority, management‑buyout positions that empower existing teams, avoid imposing turnover targets, and provide board oversight while preserving creative autonomy. A recurring theme is the scarcity of dedicated private‑equity capital in the European audiovisual market. Labret notes that many investors lack the nuanced understanding of country‑specific tax credits and regulatory frameworks, making the sector appear opaque. He contrasts the emotional appeal sought by retail investors with the rigorous, criteria‑driven approach required by institutional backers, emphasizing that “crisis creates opportunities” and that current market contraction can be a catalyst for new liquidity. If successful, the Together Fund could signal a broader shift toward company‑level financing rather than project‑based funding, encouraging more stable growth pipelines for European content creators. Increased PE participation would deepen the talent pool, improve cross‑border co‑production, and potentially raise the global competitiveness of European film and TV output.

Original Description

In this week’s episode of The Screen Podcast, film financiers Alexandra Lebret of the Together Fund and Andrea Scarso of IPR.VC share their insights.

Lebret is managing director of Paris-based film and TV focused investment fund, the Together Fund, in partnership with Paris based investment firm Axio Capital. The Fund has so far raised €58m to invest in European independent film and television production companies and recently made its first investment into top Belgium-based producer Caviar.

Scarso is managing partner at IPR.VC, a fund management company that raises money from traditional capital markets and invests specifically in the creative sector. IPR.VC has partnered with the likes of Red Bull Studios, XYZ Films, mk2, and A24, with Scarso also serving as an executive producer on Marty Supreme.

The Screen Podcast is produced and edited by Ellie Calnan with Wendy Mitchell serving as editorial director. New episodes every Thursday.

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