From Variety · John Hopewell · · 40s
Spain's SETT Funds $521m Audiovisual Growth
Spain's state-backed SETT fund pumps $521m into global audiovisual players.
In brief
Spain's state-backed SETT fund pumps $521m into global audiovisual players. Spain's SETT investment fund secured $521 million for audiovisual industries through public-private partnerships. Originally reported by Variety.
Spain's SETT Fund
Spain's state-backed venture capital fund SETT spearheads the country's audiovisual hub phase two.
Investment Push
SETT has invested €215.6 million ($252.3 million) into film, TV, video games and tech sectors.
Private Sector Match
Private investment matched SETT's public funding with €230 million ($269.1 million).
Government Official
Spain's secretary of state for digitalization and AI, María González Veracruz, confirmed the investment.
Global Impact
The initiative aims to build Spain as a global audiovisual production hub for international markets.
The one thing
Spain's SETT investment fund secured $521 million for audiovisual industries through public-private partnerships.
