The presentation of SETT, Spain's new sovereign venture capital fund, will be a key focus at the San Sebastián Festival from September 18-26, 2026.
The San Sebastián Festival, taking place from September 18 to 26, 2026, will spotlight Spain's new sovereign venture capital fund, SETT. This initiative is backed by Spain’s Ministry for Digital Transformation, aiming to stimulate the country’s audiovisual sector. SETT is positioned as a public investment entity focusing on strategic sectors, particularly in film, television, and multimedia content.
SETT’s director general, Javier Ponce, and audiovisual director, María Coronado, will provide a comprehensive overview of the fund, explaining how it seeks to improve access to financing for impactful projects and attract private investments. They aim to illuminate the fund's strategies for fostering collaboration between the public and private sectors, a crucial aspect of bringing innovative projects to fruition in the competitive audiovisual landscape.
According to Ponce, SETT serves as a vital public catalyst for growth, job creation, and innovation in the audiovisual industry. This fund is part of the Spain Audiovisual Hub, established under Spain’s Recovery Plan, which is financed by the European Union’s Next Generation funds. SETT's objective is to support high-impact projects that strengthen Spain’s audiovisual content production and associated intellectual property rights.
Furthermore, Ponce emphasizes that SETT not only enhances domestic projects but also aims to attract foreign investments, establishing Spain as a key player on the global audiovisual stage.
The co-investment model allows private investors to perceive their projects as viable, enabling SETT to invest alongside them on equal terms. This approach is designed to bolster both domestic and international investment in Spanish companies, fostering a collaborative atmosphere that includes foreign entities seeking to operate in Spain. Investments have already been made in notable companies like The Refinery, which received €25 million, and prominent animation teams such as Amuse Labs and Milo, which secured €13 million and €19 million, respectively.
The SETT team is preparing for a strong presence at the San Sebastián Festival. Notably, on September 20, the Secretary of State for Digitalisation and Artificial Intelligence will lead a presentation detailing SETT's advancements in financing the audiovisual sector. Additionally, on September 22, María Coronado is set to participate in a panel to further discuss the fund's impact and future developments.
Looking ahead, Ponce and Coronado have hinted at new strategic initiatives under the España Crece program, which holds a substantial budget of €13.3 billion. This ongoing collaboration with the ICO aims to reinforce SETT's investment in the audiovisual sector, continuing to expand opportunities for innovation and growth. By refining support policies, Spain aims to establish itself as a global hub for the audiovisual industry.
The announcement of SETT at the San Sebastián Festival signifies a pivotal moment for Spain's audiovisual industry, marking a transition to a more collaborative investment model. By bridging public and private investments, the fund seeks to navigate the inherent risks of innovative projects, setting the stage for long-term sustainability and growth in the sector. Moving forward, the success of SETT could redefine how the audiovisual landscape evolves, potentially leading to a richer, more diverse output of content in an increasingly global market.
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