Mubi CEO Efe Cakarel shared an open letter on Thursday clarifying his company’s working relationship with new investor Sequoia Capital over its alleged ties to the Israeli military.
“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,” he shared. “Any suggestion that our work is connected to funding the war is simply untrue.”
“We condemn all acts that harm innocent civilians and reaffirm the right of all people to live in peace and safety,” Cakarel added. “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.”
The founder’s message came after 63 directors issued their own open letter earlier this month urging the streamer/production company/movie distributor to address its business with Sequoia after securing $100 million in May. Specifically, one partner’s allegedly Islamophobic social media posts were of concern for the filmmakers.
“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,” Cakarel said. “We neither support nor endorse Shaun’s views, and we have voiced our strong concerns about his public statements directly to Sequoia.”
Additionally, Cakarel used the letter to announce the implementation of an Ethical Funding and Investment Policy, the Artists Advisory Council and greater support for the Artists At Risk Fund.
Mubi is most well-known for releasing “The Substance” in 2024 and will next bring Paolo Sorrentino’s “La Grazia” to the Venice Film Festival.
You can read Efe Cakarel’s full open 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.
