Mubi CEO Efe Cakarel has written an open letter in response to controversial criticism of the US company Sequoia Capital’s investment in the company.
Kakarel said the accusations that Mbi was complicit in the events of Gaza “are at odds with the values we hold as individuals and as a company,” and committed to creating both “ethical funds and investment policies” and establishing a “risk fund.”
Read the letter in full
Mbi has received a lot of criticism from the film industry as a whole after the $100 million investment it received from a US company in May. Since then, details of the investment have also been revealed to Sequoia’s Israeli defense technology company Kela. Kela is developing an operating system that allows the military to integrate artificial intelligence and commercial technology.
The controversy will kill more than 60,000 civilians in Gaza while Israel is at war with Palestinian terrorist group Hamas on October 7, 2023, in response to the estimated 1,139 Israeli murders and the capture of another 251 races by Hamas.
“The profits generated by Mbi don’t fund other companies in the Sequoia portfolio,” said Kakarel in a 750-word letter published today. “Our returns go to Sequoia’s limited partners (institutions such as universities, foundations, pension funds, etc.), not at other Sequoia support companies, such as Kera.
More than 60 filmmakers signed a letter issued at the end of July to reconsider their relationship with Sequoia and urge Mbi to publicly condemn the company for what is described as “genocide interests.”
Includes signers that contain movies distributed by Mbi Ahead’s knee Director Nadab Rapid, an Israeli filmmaker and frequent critic of his country’s military actions. Joshua Oppenheimer’s fiction feature debut end It was released by Mbi last year. Additional signatories include Radu Jude, Aki Kaurismaki, Miguel Gomez and Sarah Friedland.
The movie changes
In the first half of the letter, Kakarel stated that Mbi “is firmly opposed to all forms of war and tyranny, and supports the dignity and freedom of all people.”
He then detailed the company’s relationship with Sequoia and its partner Sean Maguire. Sean Maguire has been criticized for a social media post he read as Islamophobia.
“(Shaun) is not involved in any operational, strategic or any competency with us,” Cakarel said. “He was not on our board, had no connection to our team, and did not play a role in our partnership with Sequoia. We have neither supported nor supported Sean’s views and expressed strong concerns directly to Sequoia about his official statement.”
Afterwards, CEO Mubi detailed three changes the company has made following the criticism.
Establish ethical funding and investment policies, “set clear standards for future funding partners, establish safeguards that separate investor benefits from compilation and commissioning decisions, and provide an overview of the process of identifying and addressing any concerns that arise.”
This policy will be published tomorrow (Friday, August 15th) for public consultation and feedback prior to the final policy on October 15th, 2025.
Second, Mbi has established an independent artist advisory committee of filmmakers, artists and cultural voices to advise on ethical funding and investment policies and “providing independent guidance on issues relating to Mbi’s values and responsibilities.”
Third, the company has established an independent panel-controlled committee, residence and risk fund artist for restoration projects, which filmmakers “work under conflict, evacuation or censorship, including Palestinian filmmakers.” Details about the fund will be announced by October 30, 2025.
“A lot of wounds”
Those close to the situation further clarified why Mbi felt the need to formalise ethical funding and investment policies when the company made its apparent that its existing relationship with Sequoia is open and honest enough to state that its stated.
“In this letter, Mbi clearly defines her relationship with Sequoia and is pleased that she has no links to businesses supported by Sequoia, such as Kera,” they said. “The relationship isn’t exactly as depicted, but they understand that it has caused great damage to its central audience and filmmaking families. These are the opinions of people they care so much and want to move forward that there are no similar misconceptions.
“Ethical funding and investment policy sets clear guidelines for future partners and establishes safeguards to guide future decisions. Furthermore, Mbi wants to hear all concerns and address them with clear action.”
Kakarel’s statement was the second official Mbi’s response to criticism, which originally became prominent on social media. On June 16, the company posted a statement saying, “Individual investors’ beliefs do not reflect Mbi’s views.”
The company is in the midst of a busy year acquisition and release. Nine of the 22 Cannes competition titles, including Lynne Ramsay’s, holds at least two territorial rights Die, my love;There are also four films in the competition in Venice. Brothers of father’s mother’s brother.
Efeco Cabell
August 14, 2025
We want to thank everyone who has spent the time reaching out to our community over the past few weeks. Your words, your questions, and your concerns have all been heard and taken to heart.
I spent these few weeks in deep reflection and talked to our team, filmmakers, producers and partners around the world. We have always sought ways to take thoughtful and decisive actions, while maintaining the values that have guided us.
What’s happening in Gaza is incredibly tragic and devastating. The loss of civilian lives, including thousands of children, the destruction of homes, hospitals and cultural institutions, and the intentional targeting of the entire population’s ability to survive and prosperity is pointless. We condemn all acts that harm innocent civilians and reaffirm the right of all to live in peace and security. The immeasurable suffering, evacuation and hunger of the Palestinian people is a humanitarian catastrophe that must end. We stand firm against all forms of war and tyranny, and support the dignity and freedom of all.
I would also like to clarify the relationship between Sequoia Capital and Shaun Maguire. Following the investment from Sequoia, some have suggested they are conspiring to events occurring in Gaza. These accusations are fundamentally at odds with the values we hold as individuals and as a company. The profits generated by Mubi do not fund other companies in Sequoia’s portfolio. Our returns go to Sequoia’s limited partners (institutions such as universities, foundations, pension funds, and more). The suggestion that our work is related to funding the war is simply not true.
Sean Maguire, a partner at the heart of most of this controversy, is not a partner in the funds he invested in Mbi. He is not involved with us in operational, strategic or in any capacity. He was not on our board, had no connection to our team, or played no role in our partnership with Sequoia. We have neither supported nor supported Sean’s views and have expressed strong concerns directly to Sequoia about his official statement.
Finally, as a minority investor, Sequoia minimizes her involvement in Mbi. As founder and CEO, I am the largest shareholder and fully control all business and curator decisions. Sequoia does not have supervision or authority over programming, editing, or financial decisions.
That said, we recognize that funding for work is important and share the initiatives we are taking to clarify future funding processes. We’re formalised Ethical Finance and Investment Policy This will set clear standards for future fundraising partners, establish safeguards that separate investor benefits from compilation and commissioning decisions, and outline the process of identifying and addressing any concerns that arise. This policy was released for public consultation on August 15th, 2025 and invites feedback from filmmakers, artists, audiences, festivals, civil society groups and anyone who cares about the mission of Mbi. We will review all submissions and publish the final policy on October 15th, 2025.
We are independent too Artist Advisory CouncilIt will be established by September 15th, 2025. The group includes filmmakers, artists and cultural voices from various regions, along with mandatory human rights experts. Continuing to advise on ethical funding and investment policies, support the final policy, and provide independent guidance on issues relating to Mbi’s values and responsibility.
Apart from that, we are expanding our support for dedicated artists. Artist Risk Fund. Over the next three years, we will fund committees, settlements and restoration projects managed by arm length by independent panels focusing on filmmakers working under conflict, evacuation or censorship, including Palestinian filmmakers. Details will be provided by October 30th, 2025.
Some of our community know that we want to go further, and others may feel we’ve gone too far. Our responsibility is to protect the spaces where filmmakers and audiences can meet. It means being transparent about how we are funded, being humble about how we protect artistic independence and still need to learn.
To this end, we continue to be committed to the same mission that has led us for the past 18 years. It enhances great movies and makes them accessible to viewers all over the world. We will continue to defend our bold and diverse voices, remain true to the values that define us, ensuring exceptional filmmaking reaches the widest audience possible.
Warm,
Efecacare
Founder and CEO
Awful
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