French studio Federation Entertainment has completed a minority funding round, raising €16m ($18.4m) for growth and expansion outside of its domestic market.
Federation says the funds raised will enable the company to launch diversified projects and carry out external growth initiatives to keep up with market changes.
The European studio was founded by Pascal Breton (pictured) in 2013, with associate founders Lionel Uzan, David Michel, Serge Hayat, and Stéphane Sperry.
Last week Federation also took a majority stake in WeMake, a Paris-based unscripted prodco which it launched with Shine France COO Bouchra Réjani in 2017.
Breton, who is CEO and majority shareholder of Federation, said: “I am very pleased to welcome this consortium of solid, cohesive companies close to the audiovisual sector as new investors in our company. After having put in place a number of innovative financing tools for production and distribution, notably with Anton Capital, we are taking a new step to strengthen the Federation’s capacity for long-term development.
“The objective is to support the organic growth of our investments in production and distribution while expanding our international presence, notably through acquisitions, in order to become one of the leading European studios, with a very active branch in the US.”
Nicolas Parpex, senior investment director in the Creative Industries division of Bpifrance, added: “We are delighted to stand alongside leading investors in supporting a French champion of creative industries, led by a team with unparalleled talent and experience. The funds raised, historic in their scope for a French audiovisual production company, will enable the Federation to continue its strong growth trajectory and to solidify its international reach and its position vis-à-vis different platforms.”