𝗗𝗲𝗮𝗱𝗹𝗶𝗻𝗲 𝗛𝗼𝗹𝗹𝘆𝘄𝗼𝗼𝗱 (𝟭𝟳 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟮𝟬𝟮𝟱): "‘No Other Land’ Team To Self-Release Oscar-Winning Doc On U.S. Streaming Platforms After “Rejecting” Mubi Deal" + 𝗗𝗲𝗮𝗱𝗹𝗶𝗻𝗲 𝗛𝗼𝗹𝗹𝘆𝘄𝗼𝗼𝗱 (𝟭𝟰 𝗔𝘂𝗴𝘂𝘀𝘁 𝟮𝟬𝟮𝟱): "Mubi CEO Efe Çakarel Addresses Backlash Over Company’s Ties To Israeli Defense Investor Sequoia Capital In Open Letter: “We Condemn All Acts That Harm Innocent Civilians” + 𝗪𝗶𝗸𝗶𝗽𝗲𝗱𝗶𝗮: "Efe Çakarel"
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‘No Other Land’ Team To Self-Release Oscar-Winning Doc On U.S. Streaming Platforms After “Rejecting” Mubi Deal
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“This film shows the reality of Israeli occupation and oppression against Palestinians — but that truth apparently didn’t fit the narrative that big U.S. streamers wanted to promote. We talked to Mubi for months, and initially thought our film had found its home, but in the end we learned that they were accepting a huge investment from Sequoia Capital,” said No Other Land co-director Basel Adra.
“In addition to being unethical, it made no sense to us that they would take our film showing Israel’s oppression of Palestinians, and then also partner with a company contributing to that oppression,” added No Other Land co-director Yuval Abraham.
Mubi has faced a major PR headache following its investment from U.S. venture capital firm Sequoia which has ties to Kela, an Israeli military tech startup founded by Israeli military intelligence veterans. The company was launched after Israel began its military assault on Gaza in 2023, and the No Other Land filmmakers draw a line between Kela and the Israeli military’s devastating Gaza offensive. Dozens of filmmakers signed a petition decrying Mubi’s investment from Sequoia, leading to owner Efe Cakarel having to defend the company and assert an anti-war position.
No Other Land was self-distributed theatrically in the U.S. earlier this year and took a robust $2.5 million. While mainstream streamers and buyers shied away from the movie we understand there were arthouse theatrical offers on the table but that the filmmakers decided against taking them.
As it turns out, Mubi has licensed No Other Land in a couple of European countries (Italy and Germany) through local distributors.
No Other Land, made by a Palestinian-Israeli collective, shows the destruction of the occupied West Bank’s Masafer Yatta by Israeli soldiers and the alliance that develops between a Palestinian activist and an Israeli journalist. The film launched at the Berlin Film Festival last year and played at festivals around the world before winning the Oscar for Documentary Feature.
Mubi CEO Efe Cakarel Addresses Backlash Over Company’s Ties To Israeli Defense Investor Sequoia Capital In Open Letter: “We Condemn All Acts That Harm Innocent Civilians”
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Mubi CEO Efe Cakarel has published what he has described as an open letter to the filmmaking community in response to the mounting public criticism of his company’s ties to the private equity firm Sequoia Capital. Scroll down to read the letter in full.
Cakarel begins the letter by thanking those who have contacted him over the last few weeks to discuss the matter, before promptly clarifying the company’s position.
“Following the investment from Sequoia, some have suggested that we are complicit in the events occurring in Gaza,” Cakarel writes. “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.”
“He has no involvement with our company operationally, strategically, or in any capacity,” Cakarel writes of Maguire. “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.”
Cakarel confirms that as a minority investor, “Sequoia has minimal involvement in Mubi,” and he as CEO remains the “largest shareholder and maintains full control over all business and curatorial decisions.”
“Sequoia has no oversight or authority over our programming, editorial, or financial decisions,” Cakarel concludes.
On the specific events happening in Gaza, Cakarel writes: “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.”
Moving forward, Cakarel says Mubi will introduce 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.” Cakarel says Mubi will establish an Independent Artists Advisory Council to shape that policy. The council will include “filmmakers, artists, and cultural voices from different regions alongside a human-rights due diligence expert.”
“We know some in our community will want us to go further, and others may feel we have gone too far,” Cakarel ends the letter. “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.”
Mubi has been one of the most popular pillars of contemporary arthouse cinema for some time. Travel to any major city and you’re likely to catch one of the company’s popular cobalt blue totes over someone’s shoulder. News of the company’s $100 million investment deal with Sequoia changed its public perception after it was uncovered that the Silicon Valley-based private equity firm had close ties to defense-tech startup Kela, founded in 2024 by a group of Israeli intelligence veterans in response to the Hamas attacks of October 7, 2023. Reports have said Kela is currently developing a battlefield operating system that will enable military units to integrate AI and commercial tech. Last month, a group of Mubi-affiliated filmmakers, including Radu Jude and Joshua Oppenheimer, published an open letter calling on the company to reconsider its investment from Sequoia.
Titles set for release via Mubi this year include Lynne Ramsay’s Die My Love and Mascha Schilinski’s Sound of Falling.
Efe Cakarel’s Full Letter:
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.
Warmly,
Efe Cakarel
Founder & CEO
MUBI
Efe Cakarel
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Efe Çakarel[1][2][3][4] is a Turkish entrepreneur, founder and CEO of MUBI.[5][6][7] Following his graduation from the American Collegiate Institute in İzmir, Turkey, he earned his B.S. in Electrical Engineering and Computer Science from Massachusetts Institute of Technology, and an MBA from Stanford Graduate School of Business. Prior to founding MUBI, he spent a number of years at Goldman Sachs[8] in investment banking. He was part of Turkey's national math team and placed third in the European Math Olympiad.[9] He also has two patents related to monetization of web applications.[10]
In February 2025, The New York Times published a major profile piece on MUBI and Efe Çakarel, positioning MUBI as "a real Hollywood player" following the success of The Substance.[11]
At the Cannes Film Festival in May 2025, MUBI paid $24m for Lynne Ramsay’s psychological comedy-drama Die, My Love, starring Jennifer Lawrence and Robert Pattinson, across multiple territories[12] - the biggest deal in to come out of Cannes that year.[13]
In May 2025, the venture capital firm Sequoia Capital invested £100m in MUBI, valuing the company at $1bn.[13]
Criticism and Çakarel's Open Letter
In May 2025, MUBI announced that it had secured $100m in funding from Sequoia Capital.[14] The announcement provoked widespread criticism within the international film community. At least 63 signatories signed an open letter condemning the distribution company's move citing Sequoia's investment in Israeli defense-tech startup, Kela.[15]
Efe Cakarel, in response, wrote an open letter highlighting that profits generated by MUBI will not be used by Sequoia to fund other businesses in its portfolio. Cakarel also mentioned that Sequoia partner, Shaun Maguire was not part of the MUBI board. However, the open letter had no mention of Andrew Reed - the Sequoia Partner Andrew Reed who is on the MUBI board.[16][17]
References
- "Bir dahi ile tanıştım: Efe Çakarel". 19 August 2010.
- "Girişimcilik 2016: Hayalden Gerçeğe". 25 March 2016.
- Les inrockuptibles. Editions Indépendantes. 2009.
- "MUBI, 2014 yılını 49 yatırımcıdan 15 milyon dolar yatırımla kapattı". 5 January 2015.
- Streaming Hard-to-Find Films for Cinephiles
- Ravindran, Manori (2022-09-12). "MUBI Founder on Evolving Into a Studio, Building Global Cinemas and Outbidding Competitors: 'We Paid an Irrational Amount for 'Decision to Leave"". Variety. Retrieved 2023-03-08.
- Mueller, Matt (2020-12-28). "Perspectives on 2020: Efe Cakarel on MUBI's boom and shattered windows". Screen. Retrieved 2023-03-08.
- "Bloomberg: Ex-Goldman Banker's Film Website Gets Funds, Samsung Deal". Bloomberg. 11 March 2014.
- New York Times: Efe Cakarel - Plunging Into the Stream of Things
- US patent application: Method and system for providing feedback on business transactions using computer applications
- Sperling, Nicole (2025-02-27). "How 'The Substance' Helped Mubi Break Through". The New York Times. ISSN 0362-4331. Retrieved 2025-06-02.
- Keslassy, Elsa (2025-05-18). "Mubi Buys Jennifer Lawrence and Robert Pattinson's 'Die My Love' in $24 Million Cannes Deal". Variety. Retrieved 2025-06-02.
- Grimes, Christopher (2025-05-31). "Sequoia bets on indie films with $100mn Mubi fundraising". Financial Times. Retrieved 2025-06-02.
- Horton, Adrian (2025-08-06). "Mubi film distributor faces backlash over investor's ties to Israeli military". The Guardian. ISSN 0261-3077. Retrieved 2025-08-30.
- Ritman, Alex (2025-08-06). "Mubi Faces Mounting Pressure as Ari Folman, Nadav Lapid, Amalia Ulman, Alex Russell and More Add Names to Letter Criticizing Investor With Israeli Military Ties (EXCLUSIVE)". Variety. Retrieved 2025-08-30.
- Keslassy, Elsa (2025-08-14). "Mubi Boss Efe Cakarel Clarifies Relationship With New Investor After Backlash Over Israeli Military Ties, Sets Advisory Body and Fund for 'Artists at Risk'". Variety. Retrieved 2025-08-30.
- "Mubi CEO Efe Cakarel addresses Sequoia investment criticism in open letter". Screen. Retrieved 2025-08-30.
External links
- Film Comment article on founder Efe Cakarel
- Wired UK article on founder Efe Cakarel
- Talk given by Efe Cakarel at LeWeb London 2012
- Interview on Bloomberg TV’s 'The Pulse' (January 2016)
- Roundtable interview on CNBC's Morning News (January 2016)