What did the Mubi CEO say about the company’s links to Sequoia Capital?

Mubi CEO Efe Cakarel has issued a public statement to all movie makers worldwide amid growing scrutiny over the streaming platform's association with Sequoia Capital. The open letter comes in the wake of intensifying criticism directed at the company's decision to partner with the private equity firm, which has faced backlash for its reported connections to the Israeli military. In his note, Cakarel talks right about this issue and lays out where his company stands during this heated debate.

Mubi, a site well-known for spotlighting independent filmmakers, is in hot water after a $100 million funding deal in May with Sequoia. The controversy comes from revelations that the Silicon Valley venture capital firm also backs Kela, a defense-tech firm started in 2024 by four former members of Israeli intelligence after the October 7 Hamas strikes. Kela is reportedly making an AI system for battlefield design that merges military operations with commercial technology.

Mubi, noted for its blue tote bags, has always had a strong group of movie fans. But the link with Sequoia has led to criticism from within the film community. Sixty-three directors, like Radu Jude and Joshua Oppenheimer, sent a letter last month. They want the company to think again about its tie with the firm.

Mubi CEO denies Gaza War ties, clarifies funding

In a new letter addressing growing criticism, Mubi CEO Efe Cakarel started by acknowledging the outreach he has received in recent weeks before moving to firmly outline the company's stance. Then, he set out what his company holds to be true.

He rejected the idea that the movie site has any link to the war in Gaza. He made clear that revenue from Mubi's operations does not fund other businesses in Sequoia Capital's portfolio, including Kela. According to Cakarel, the firm's gains go to Sequoia's limited partners, places like schools, groups that help others, and funds for retirees, not to any groups linked with the war.

Expressing deep sadness about the "tragic and devastating" human pain in Gaza, Cakarel pointed out the scale of civilian casualties, including many kids, and alongside the destruction of essential infrastructure. He also made it clear that Shaun Maguire, the Sequoia partner facing a lot of public backlash, does not have any involvement with Mubi in any way. He stressed that the firm does not back Maguire's views shared in public, and has conveyed its concerns about them directly to Sequoia. In his words:

"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."

Mubi CEO Efe Cakarel reaffirms control, condemns civilian suffering in Gaza

Efe Cakarel made it clear that Sequoia, as a minor stakeholder, has a small sway in the company's operations. He pointed out that he is still the largest shareholder with full control over the business and curatorial choices. He underlined that the investing group has no hand in shaping Mubi's TV shows, views, or money plans.

Talking about the hard times in Gaza, Cakarel said he's against all the harm inflicted on normal people. He called the displacement, hunger, and pain of Palestinians a big humanitarian disaster that needs to stop. He said again that the platform doesn't like war or oppression, making it clear that they stand for peace, respect, and freedom for everyone. In his words:

"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."

Mubi unveils ethical funding plan to protect creative independence

Efe Cakarel has also talked about a new plan for Ethical Funding and Investment Policy aimed at setting clear standards for future financial backers while ensuring investor influence remains separate from editorial and commissioning choices.

As part of this plan, the streaming service will set up an Independent Artists Advisory Group made of movie makers, artists, cultural people from many places, and a human rights expert. They will help craft the rules. In an open letter, Cakarel spoke about different views in the group, stressing Mubi's need to keep a space for movie makers and audiences by being transparent about funding sources, safeguarding creative autonomy, and staying open to learn more. In his words:

"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."

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