Italy’s Rainbow Group has secured investment from TEC Movie, an independent vehicle established as part of The Equity Club (TEC), amounting to €90 million ($92 million).
With the investment, TEC Movie becomes a minority stakeholder in the business. Rainbow plans to use the investment to strengthen its existing IP library as well as develop and acquire new international IP.
Iginio Straffi, founder and CEO of Rainbow Group, called the partnership “a decisive step for the future of Rainbow” and added: “We are thrilled to welcome The Equity Club as a new partner to support our growth strategy. This deal will allow us to make important investments, develop new shows and continue to bring the talent and creativity of Made in Italy to the world. Since our inception, we have worked to grow Rainbow as a paragon of Italian excellence on the global stage, focusing on innovation, quality and the ability to create authentic emotional connections with audiences.”
Filippo Penatti, co-CEO of TEC, said: “We are pleased to establish a new partnership with a visionary entrepreneur like Iginio Straffi and with the whole Rainbow Group, sharing its strategic goals and ambitious future of organic and acquisitive growth. Rainbow represents Italian excellence with an international standing in the field of animation and media content.”
Roberto Ferraresi, co-CEO of TEC, added: “Our partnership with Rainbow marks the second investment promoted through TEC 2, following our previous one with Club del Sole completed last May. The investment represents an important milestone reached just six months after the official launch of the new initiative and fits perfectly with TEC 2’s goal of supporting the ambitious growth projects of Italian companies, putting the entrepreneur at the center and supporting them with the team’s expertise for international development.”