IPR.VC announced closing a $46M new fund for investing in TV, film and interactive content.
IPR.VC, a Helsinki, Finland-based fund management firm announced raising IPR.VC Fund II, with a first closing at EUR 42M ($46M).
IPR.VC Fund II aims to invest in European TV, film and interactive content, laying on the premise that the media content is a growing asset class that is not correlated to general economic trends.
Most venture funds are active in media technologies, while content production has been financed by industry operators and private investors. The drive for growth is media content, which has not yet attracted European VC investments on a large scale to date.
IPR.VC Fund II has just launched its investment operations with first closing of EUR 42M and targets a final closing of EUR 60-70M within a year. The investor mix includes state-owned investment company Tesi, the FoF Growth III fund, pension funds, insurance companies, family offices, art and culture foundations, and fund managers.
IPR.VC, led by its founder Timo Argillander, was founded in 2015 and currently has capital of EUR 62 million under management. To date, IPR.VC has financed the TV series ‘Bordertown’ (‘Sorjonen’ in Finnish) which can be watched in 180 countries, amongst other investments across animation, video games, film and TV production.