Spain’s SETT Drives $521 Million Investment Push to Build Global Audiovisual Players

Spearheading the Spain Audiovisual Hub Phase 2, SETT, a state-backed venture capital fund, represents new opportunities for Spain’s film and TV industries

By John Hopewell

John Hopewell

Chief International Correspondent

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No Spanish industry initiative is likely to drive more conversation at this year’s San Sebastián Festival than the latest moves by the Spanish Society for Technological Transformation (SETT).

Over the past 12 months, state-backed venture capital fund SETT, the investment driver of the Spain Audiovisual Hub, has plowed €215.6 million ($252.3 million) into Spain’s film, TV, video game and new technology sectors, sparking matching private-sector investment of a further €230 million ($269.1 million), says María González Veracruz, Spain’s secretary of state for digitalization and artificial intelligence.

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