Mubi founder and CEO Efe Cakarel has penned an emotional letter addressed to the filmmaking community in response to the backlash surrounding the company’s new investor, Sequoia Capital, and its ties to the Israeli military.
Mubi, an arthouse distributor and producer with a mission to champion independent voices in cinema, has been under fire since securing a $100 million investment from Sequoia in May. It turns out the portfolio of the Silicon Valley-based venture capital company includes defense-tech startup Kela — which was founded by four veterans of Israeli intelligence units in response to the terror attacks of Oct. 7 — alongside big players such as Apple, Zoom and Airbnb.
Sixty-three directors, including Nadav Lapid, Ari Folman and Aki Kaurismäki, signed a letter earlier this month criticizing Mubi for its relationship with Sequoia, claiming Mubi’s financial growth is “tied to the genocide in Gaza” and highlighting the controversial profile of Sequoia partner Shaun Maguire, who has been accused of Islamophobic social media posts.
Cakarel, who was born in Turkey and studied in the U.S., began his letter by sharing his despair over the “unbelievably tragic and devastating” events in Gaza — the “loss of civilian lives, including thousands of children, the destruction of homes, hospitals and cultural institutions, and the deliberate targeting of an entire population’s ability to survive and thrive.”
“The immense suffering, displacement, and starvation of the Palestinian people is a humanitarian catastrophe that must end. We stand firmly against war and tyranny in all forms, and in support of the dignity and freedom of all people,” Cakarel wrote.
He then denied accusations that Mubi is “complicit in the events occurring in Gaza,” explaining that “the profits Mubi generates do not fund any other companies in Sequoia’s portfolio.”
“Our returns go to Sequoia’s limited partners — institutions such as universities, foundations and pension funds — not to other Sequoia-backed businesses such as Kela,” he wrote. “Any suggestion that our work is connected to funding the war is simply untrue.”
Love Film & TV?
Get your daily dose of everything happening in music, film and TV in Australia and abroad.
Cakarel also singled out Shaun Maguire and said he “is not a partner of any of the funds that invested in Mubi.”
“He has no involvement with our company operationally, strategically, or in any capacity. He is not on our board, has no relationship with our team and played no role in our partnership with Sequoia,” Cakarel wrote, adding that Mubi “neither support nor endorse Shaun’s views” and “have voiced our strong concerns about his public statements directly to Sequoia.”
Since Sequoia is a minority shareholder, it “has no oversight or authority over our programming, editorial or financial decisions,” he continued.
Cakarel has also taken several steps to “ensure clarity around” Mubi’s funding process with the launch of an Ethical Funding and Investment Policy and an Artists Advisory Council, which will include filmmakers and “establish safeguards that separate investor interests from editorial and commissioning decisions.”
Lastly, Mubi is creating an Artists at Risk fund, which will see the company fund commissions, residencies and restoration projects from “filmmakers working under conflict, displacement or censorship, including Palestinian filmmakers,” over the next three years.
While it’s grappled with the controversy over Sequoia in recent months, Mubi has since its founding in 2007 been hailed as a haven for international storytellers and subversive filmmakers. Last year, it canceled its international film festival in Turkey over concerns about local censorship after one its films, Luca Guadagnino’s “Queer,” was banned. However, Cakarel told Variety during his cover interview this spring that the company wasn’t known for making political statements as it preferred to let its curation of films speak for itself.
Over the years, Mubi has released a number of movies by Iranian, Palestinian and Turkish filmmakers including Jafar Panahi, Mohammad Rasoulof, Saeed Roustayi, Fatih Akin, Hany Abu-Assad, Haifaa Al-Mansour and Elia Suleiman. Mubi also distributed “No Other Land,” the Oscar-winning documentary co-directed by a team of Palestinian and Israeli filmmakers, in major European territories such as Italy and Germany.
Mubi has also been applauded by indie directors and producers for favoring theatrical releases and giving them full transparency over revenues. Last year, Mubi boarded Coralie Fargeat’s “The Substance” after Universal left the project shortly before the Cannes Film Festival and led it to earn five Oscar nominations and over $83 million globally. Later this month, Mubi will attend the Venice Film Festival with several anticipated films, including Paolo Sorrentino’s “La Grazia” on opening night.
Read Cakarel’s full letter below.
To our community,
I want to thank everyone who has taken the time to reach out over the past few weeks. Your words, your questions, and your concerns have all been heard and taken to heart.
I’ve spent these weeks in deep reflection, talking with our team, filmmakers, producers, and partners around the world. We have been exploring how to take thoughtful and decisive action while upholding the values that have always guided us.
What’s happening in Gaza is unbelievably tragic and devastating. The loss of civilian lives, including thousands of children, the destruction of homes, hospitals, and cultural institutions, and the deliberate targeting of an entire population’s ability to survive and thrive are unconscionable. We condemn all acts that harm innocent civilians and reaffirm the right of all people to live in peace and safety. The immense suffering, displacement, and starvation of the Palestinian people is a humanitarian catastrophe that must end. We stand firmly against war and tyranny in all forms, and in support of the dignity and freedom of all people.
I also want to clarify our relationship with Sequoia Capital and Shaun Maguire. Following the investment from Sequoia, some have suggested that we are complicit in the events occurring in Gaza. These accusations are fundamentally at odds with the values we hold as individuals and as a company. The profits MUBI generates do not fund any other companies in Sequoia’s portfolio. Our returns go to Sequoia’s limited partners — institutions such as universities, foundations, and pension funds — not to other Sequoia-backed businesses such as Kela. Any suggestion that our work is connected to funding the war is simply untrue.
Shaun Maguire, the Sequoia partner at the center of much of this controversy, is not a partner of any of the funds that invested in MUBI. He has no involvement with our company operationally, strategically, or in any capacity. He is not on our board, has no relationship with our team, and played no role in our partnership with Sequoia. We neither support nor endorse Shaun’s views, and we have voiced our strong concerns about his public statements directly to Sequoia.
Finally, as a minority investor, Sequoia has minimal involvement in MUBI. As the founder and CEO, I remain the largest shareholder and maintain full control over all business and curatorial decisions. Sequoia has no oversight or authority over our programming, editorial, or financial decisions.
That said, we recognize that how we fund our work matters, and we are sharing initiatives we are undertaking to ensure clarity around our funding process in the future. We are formalizing an Ethical Funding and Investment Policy that will set clear criteria for future funding partners, establish safeguards that separate investor interests from editorial and commissioning decisions, and outline a process to review and address any concerns that arise. The policy will be published on August 15, 2025 for public consultation, inviting feedback from filmmakers, artists, audiences, festivals, civil-society groups, and all who care about MUBI’s mission. We will review all submissions and publish the final policy on October 15, 2025.
We are also forming an independent Artists Advisory Council, to be established by September 15, 2025. This group will include filmmakers, artists, and cultural voices from different regions alongside a human-rights due-diligence expert. It will advise on the Ethical Funding and Investment Policy, endorse the final policy, and continue on an ongoing basis to provide independent guidance on matters relating to MUBI’s values and responsibilities.
Separately, we are expanding our support for artists at risk through a dedicated Artists At Risk Fund. Over the next three years, we will fund commissions, residencies, and restoration projects administered at arm’s length by an independent panel, focusing on filmmakers working under conflict, displacement, or censorship, including Palestinian filmmakers. Full details will be provided by October 30, 2025.
We know some in our community will want us to go further, and others may feel we have gone too far. Our responsibility is to protect a space where filmmakers and audiences can meet. That means being transparent about how we are funded, explicit about how we protect artistic independence, and humble about what we still need to learn.
Looking ahead, we remain committed to the same mission that has guided us for the past 18 years: elevating great cinema and making it accessible to audiences around the globe. We will continue to champion bold and diverse voices, stay true to the values that define us, and ensure that exceptional filmmaking reaches the widest possible audience.
Warmly,
Efe Cakarel
Founder & CEO
MUBI
From Variety US