Mubi will not part ways with Sequoia Capital, an investor with ties to the Israeli military, after outrage from the distributor's top filmmakers, but the company has told its creatives: "Any suggestion that our work is connected to war funding is simply false."
Mubi founder and CEO Efe Cakarel has responded after more than 35 directors signed an open letter to distributor Arthouse criticizing its relationship with the Silicon Valley-based company. Among them are Joshua Oppenheimer, Sarah Friedland, Levan Akin, Radu Jude, Miguel Gomes, as well as Israeli filmmakers Ari Folman, Nadav Lapid, and Amalia Ulman (whose Sundance-acquired feature Mirón will be released on August 22).
"Mubi's financial growth as a company is now explicitly linked to the genocide in Gaza, which implicates all of us who work with Mubi," the initial letter read. "We do not believe that an Arthouse film platform can meaningfully support a global community of cinephiles while partnering with a company invested in murdering Palestinian artists and filmmakers."
They asked Mubi, which secured a $100 million investment from Sequoia in late May, to publicly condemn the company for “genocide profiteering,” remove Sequoia partner Andrew Reed from Mubi’s board of directors, institute an ethics policy for all Mubi Future Mubi investments, and abide by the programming and partnership guidelines set out by the Palestinian Campaign for Academic and Cultural Boycott of Israel (PACBI).
It comes after Sequoia invested in a defense technology startup, Kela, co-founded last year by four Israeli Intelligence Unit veterans, including Omer Bar-Ilan, who worked at Israel's Iron Dome. Kela describes its goal as "redoubling down on tech-scrubbing talent back into the defense sector" through cybersecurity and AI, an "urgent priority" following the October 7 attacks.
In addition, Sequoia partner Shaun Maguire drew widespread condemnation for allegedly Islamophobic social media posts, some of them about the new Democratic candidate for New York City mayor, Zohran Mamdani. (More than 1,000 tech workers wrote an open letter demanding discipline from Sequoia Maguire.)
Cakarel told the Mubi community in a letter published by The Hollywood Reporter Thursday: "I have spent these weeks in deep reflection, speaking with our team, filmmakers, producers, and partners around the world. We have been exploring how to take thoughtful and decisive steps while maintaining the values that have always guided us."
"What is happening in Gaza is incredibly tragic and devastating," he continued. "We condemn all acts that harm innocent civilians and reaffirm the right of all people to live in peace and security. The immense suffering, displacement, and hunger of the Palestinian people is a catastrophe that must end."
Cakarel clarifies that the profits generated by Mubi "do not fund any other companies in Sequoia's portfolio." He says, "Our returns go to Sequoia's limited partners—institutions like universities, foundations, and pension funds—not to other Sequoia-backed companies like Kela. Any suggestion that our work is connected to funding war is simply false."
Maguire, he says, is not a partner in any of the funds investing in Mubi, and has no stake in the 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 do not support or endorse Shaun's views, and we have expressed our strong concerns about his public statements directly to Sequoia.
As a minority investor, Sequoia holds a "minimal stake" in Mubi. Cakarel himself remains the largest shareholder and maintains complete control over the business, but Sequoia has no oversight or authority over programming, editorial, or financial decisions.
Cakarel goes on to explain that Mubi is formalizing an ethical funding and investment policy, published on Friday, as well as an Independent Arts Advisory Board that will be established in September. This will help establish "clear criteria" for future funding partners and establish safeguards, and advise on Mubi's ethical funding and investment policy.
Cakarel adds that Mubi is expanding its support for at-risk artists through a dedicated fund, where the company will finance commissions, residencies, and restoration projects managed long-term by an independent panel, "focusing on filmmakers working under conflict, displacement, or censorship, including Palestinian filmmakers."
The full letter from Mubi CEO and founder Efe Cakarel can be read below.
«To our community,
I want to thank everyone who has taken the time to reach out over the past few weeks. Your words, questions, and concerns have been heard and taken seriously.
I've spent these weeks in deep reflection, speaking with our team, filmmakers, producers, and partners around the world. We've been exploring how to take thoughtful and decisive action while maintaining the values that have always guided us.
What is happening in Gaza is incredibly tragic and devastating. The loss of civilian life, 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 security. The immense suffering, displacement, and hunger 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 Sequoia's investment, some have suggested that we are complicit in the events unfolding 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 like universities, foundations, and pension funds—not to other Sequoia-backed companies like Kela. Any suggestion that our work is connected to funding war is simply false.
Shaun Maguire, the Sequoia partner at the center of much of this controversy, is not a partner in any of the funds that invested in Mubi. He has no involvement in 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 do not support or endorse Shaun's views, and we have expressed our strong concerns about his public statements directly to Sequoia.
Finally, as a minority investor, Sequoia holds a minimal stake in Mubi. As founder and CEO, I remain the largest shareholder and maintain complete 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 about our funding process going forward. 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 for reviewing and addressing any concerns that arise. The policy will be published on August 15, 2025, for public consultation, inviting comments from filmmakers, artists, audiences, festivals, civil society groups, and all those 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 Board, which will be established by September 15, 2025. This group will include filmmakers, artists, and cultural voices from different regions, along with a human rights due diligence expert. It will advise on the ethical funding and investment policy, endorse the final policy, and continue to provide independent guidance on matters related to Mubi's values and responsibilities.
Separately, we are expanding our support for artists at risk through an Artists in Risk Venture Fund. Over the next three years, we will fund commissions, residencies, and restoration projects managed 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 that some in our community will want us to go further, and others may feel we've gone too far. Our responsibility is to protect a space where filmmakers and audiences can come together. That means being transparent about how we're funded, explicit about how we protect artistic independence, and humble about what we still need to learn.
Looking to the future, we remain committed to the same mission that has guided us for the past 18 years: elevating excellent cinema and making it accessible to audiences around the world. We will continue to champion bold and diverse voices, stay true to the values that define us, and ensure that exceptional cinema reaches the widest possible audience.
Warmly,
Efe Cakarel, founder and CEO, Mubi.
