Israel’s TV Format Fund has partnered with Finland’s Profict Partners to identify potential investment opportunities within Scandinavia.
Established last year, the Fund is a joint venture between entrepreneur Alon Dolev (pictured) and Rubicon Business Group, and aims to finance and develop internationally-focused TV formats.
The goal of the partnership with Profict – which represents the Finnish government’s funding programs for business initiatives across various fields – is to locate investment opportunities in Finnish television content, including formats and Finnish productions in addition to Israeli original formats. Projects would receive joint funding through the TV Format Fund and either the Finnish government or private Finnish entities.
In a statement, TV Format Fund CEO Alon Dolev explains that a team from the Fund is to travel to Finland in the next few months to meet key players in the Finnish TV industry.
“This strategic partnership offers opportunities to everyone involved: the government in Finland is provided grants and loans at very comfortable terms for developing innovations, growth and internationalization of the media industry,” said Dolev.
“Secondly, the Scandinavian television industry offers great promise…it is a dynamic industry that is stirring international interest and curiosity,” he added. “In addition, the Finnish market constitutes an excellent platform for Israeli formats. We are continuing to invest in Israeli television formats and programs, and leveraging them in the international market, now with an emphasis on significantly opening doors for Israeli formats in Finland.”
Jarmo Kalliola, founding partner of Profict Partners, added: “TV Format Fund’s strong expertise and extensive international network will help Finnish format companies create success in global markets…This cooperation is a great addition to our range of services that provides growth-stage companies with internationalization and financial services.”