IPR VC announced €65 million for IPR.VC Fund II.

IPR VC, a Helsinki, Finland-based investment company, announced that it raised a total of €65 million ($78M) at the final closing of IPR.VC Fund II.

IPR.VC Fund II aims to invest in film and TV in European and Northern American companies and production slates. The investments are done with selected strategic partners that include growing film and TV studios, distribution partners, and content immaterial rights developers.

The new fund was raised from a diverse base of Finnish institutional investors, including private and public pension and unemployment funds, Tesi, KRR Fund-of Fund, family offices, foundations, and IPR.VC Fund managers.

IPR VC was founded in 2014 by Jarkko Virtanen, Timo Argillander and Tanu-Matti Tuominen as a venture capital firm that invests in media content, specifically in content such as television series, films, internet media, games and music sectors. The company invests out of two funds, one started at €20 million in 2015 and another announced at €42 million in 2019.

Some of their backed productions include Miikko Oikkonen’s crime series Bordertown, and features such as Dome Karukoski’s Tom of Finland and Klaus Härö’s One Last Deal. Media startups they previously backed include Blidz, Tubecon and Lightneer.