Investment fund Gala Capital has taken a significant step into the cultural sector by acquiring a minority—yet strategic—stake in SOM Produce, one of Spain’s leading musical theatre production companies. The deal, valued at around €25 million, includes both the purchase of shares from the founders and participation in a capital increase.
With this investment, Gala Capital aims to support SOM Produce’s international expansion, particularly in Latin America, where the company plans to stage its productions with lower costs than those required in the Spanish market.
A well-established production company
Founded in 2011 by Gonzalo Pérez, Marcos Cámara, José María Cámara, Pilar Gutiérrez, and Juan José Rivero, SOM Produce currently manages some of Madrid’s most iconic theatres, including Teatro Rialto, Nuevo Teatro Alcalá, and Teatro Calderón. Since 2018, it also owns 95% of Teatro Nuevo Apolo.
The company is known for bringing major titles to the stage, such as Billy Elliot, The Sound of Music, Chicago, and West Side Story. Its production of Billy Elliot, which premiered in 2017, continues to attract thousands of spectators. Current shows include El Mago Pop, Carmina Burana, and West Side Story.
Growth and capacity
In its 2017 report, SOM Produce had already outlined its goal to strengthen its leadership in the musical theatre sector in Spain. The company has reached an operational scale that enables it to manage several large-scale productions simultaneously, maintaining financial sustainability without relying on high levels of debt.
Its catalogue also includes productions like Avenue Q, Grease, Priscilla, Cabaret, The Glass Menagerie, Mayumaná, and others that have toured across Spain. Each season, SOM Produce sells over one million tickets in Madrid alone, alternating between in-house productions and shows hosted in its venues.
Second investment from the Iberian Fund
The investment in SOM Produce marks the second move by the Iberian Fund, managed by Gala Capital, following its entry into Spanish production company Secuoya—linked to Netflix—in 2018. In that deal, Gala acquired a 14% stake, now valued at €11 million.
Strategic diversification
Gala Capital, led by managing partner Íñigo González de Luna, adds this deal to an already diversified portfolio that includes investments in telecommunications, technology, and finance. Highlights include stakes in MásMóvil (4.28%), Iberfibra, Farsens, Artificial, and financial sector firms such as Beka Finance, Mymoid, and Rebellion. Its portfolio also includes AT Biotech, ALG Breathless, and the aforementioned Secuoya.
“Our investment in SOM reflects our model: well-managed companies with growth potential, inclusivity, and a strong economic and touristic impact,” says González de Luna.
