Madrid Artes Digitales ("MAD"), a global leader at the intersection of culture, history and cutting-edge technology, together with its shareholders Inmersivas Digitales 2025, Layers of Reality and Stardust International, today announced that Nazca Capital, through its Nazca Opportunities strategy, has completed its fourth investment by acquiring a majority stake in MAD. Stardust International and Inmersivas Digitales will remain significant minority shareholders, MAD's current management team will continue to lead the company, and Layers of Reality will continue to collaborate with MAD as its international licensing partner. The financial terms of the transaction were not disclosed.
Founded in 2021, MAD creates, produces and distributes large-scale immersive cultural experiences that combine 360-degree projection mapping, virtual reality (VR), location-based virtual reality (LBVR), augmented reality (AR), holographic content, immersive installations and interactive digital technologies. Its productions—including Tutankhamun: The Immersive Exhibition, The Last Days of Pompeii, The Legend of the Titanic and Cleopatra: The Immersive Exhibition—have sold more than five million tickets worldwide and have received multiple Telly and Eventex Awards, as well as National Geographic Spain's Best Historical Exhibition Award.
MAD's flagship venue, located at Nave 16 in Matadero Madrid, serves both as a permanent exhibition space and an innovation hub operating under a profitable business model, where the company develops, tests and refines new productions before launching them internationally. Working alongside leading artists, historians, curators and technology partners, MAD combines rigorous historical and cultural research with advanced digital production to create accessible, emotionally engaging experiences for broad audiences.
MAD's productions have been presented in more than 20 cities across 10 countries in Europe, Latin America, Asia and Africa. The company works with a network of leading local promoters and venue operators, enabling it to extend the lifecycle of each production and expand internationally through a highly asset-light licensing model. Tutankhamun was also selected by the Grand Egyptian Museum in Giza to commemorate the centenary of the discovery of the pharaoh's tomb.
In September 2026, MAD will premiere The Odyssey: The Immersive Journey at Matadero Madrid. The company's most recent and ambitious production to date will bring Homer's epic to life through immersive storytelling and state-of-the-art technology.
Nazca will support MAD in accelerating the development of new proprietary productions, expanding its international licensing network and selectively adding new permanent venues. The partnership will also strengthen the company's organization and business development capabilities while preserving the creative independence and high-quality standards that have underpinned its success.
Jelle de Jong, CEO of MAD, said: “After an extraordinary five-year journey alongside our founding shareholders and the exceptional team we have built, we could not be more excited about MAD’s future. Audiences are increasingly seeking immersive experiences that create a deeper connection with culture and history. I would like to thank Layers of Reality, and especially Jordi Sellas, for their creativity, support and collaboration in building MAD. This is not goodbye: Layers will continue to present MAD’s productions at its venues, and I am confident that we will find new ways to work together in the future. Nazca has demonstrated a deep understanding of our industry and shares our ambition to tell powerful stories through unforgettable experiences. I look forward to beginning this new chapter alongside their team.”
Marcos Cámara Martín, co-founder of MAD and head of Inmersivas Digitales, said: “We created MAD to bring our experience in theatrical production into a new format, combining historical storytelling, technology and cultural content. The enthusiastic response from audiences around the world demonstrates the strength of that vision. Nazca has a proven track record of supporting leading Spanish companies in the audiovisual and entertainment sectors with international ambitions, and we believe they are the right partner to help MAD realize its full potential.”
Mónica Strotmann, CEO of Stardust International, commented: “We are proud to have co-founded MAD and to have supported its growth over the past five years. Stardust will continue to contribute its expertise in touring, international licensing and brand management as MAD expands its portfolio of proprietary productions around the world. Our decision to remain shareholders reflects our confidence in Jelle, Nazca, and the long-term prospects of both MAD and the immersive entertainment market.”
Ignacio Portela, Managing Partner at Nazca, said: “MAD is a unique platform that combines proprietary intellectual property, an award-winning creative team, a flagship venue that serves as an innovation hub, and a highly scalable international licensing model. The company has demonstrated an exceptional ability to transform history and culture into accessible and emotionally compelling experiences for audiences around the world. We are delighted to partner with Jelle, the management team and the existing shareholders to accelerate MAD’s international expansion and develop the next generation of productions.”
Lisbeth R. Barron and the team at Barron International Group, LLC served as MAD’s exclusive financial and strategic advisors. Deloitte Legal acted as legal advisor to MAD. Nazca was advised financially by Mesana Corporate and legally by Pérez-Llorca. Roland Berger provided commercial due diligence services, while Grant Thornton advised on the remaining due diligence workstreams.
ABOUT MADRID ARTES DIGITALES
Madrid Artes Digitales (MAD) is a Madrid-based company dedicated to the creation, production, licensing and management of award-winning immersive cultural experiences. Founded in 2021, MAD has developed a portfolio of proprietary productions that use 360-degree projection mapping, virtual and augmented reality, holograms, location-based virtual reality and interactive installations to bring timeless stories from history and culture to life. Its flagship venue at Nave 16 in Matadero Madrid serves as both a permanent exhibition space and an innovation laboratory, while its asset-light licensing network distributes MAD’s productions internationally through leading local promoters and venue operators. MAD’s productions have sold more than five million tickets worldwide.
https://madridartesdigitales.com
ABOUT NAZCA CAPITAL
Nazca Capital is an independent Spanish private equity firm with more than 25 years of experience investing in and supporting the growth of leading mid-market companies. The firm has completed more than 110 transactions and currently manages three complementary investment strategies: Nazca Small Cap; Nazca Opportunities, a deal-by-deal investment platform backed by family offices and institutional investors; and Nazca Aerospace & Defence, focused on the consolidation and development of strategic companies in the aerospace and defence sector.
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