MDIF backs Colombian podcast studio La No Ficción in push into Spain
What's the deal? The Media Development Investment Fund (MDIF)Dealroom has a profile for this one. Try Dealroom → has invested in La No Ficción, a Bogotá-based podcast production company, to fund its expansion into Spain. It is MDIF's fourth investment in Colombia since 2004. Terms were not disclosed.
Who's behind it? Founded in 2018 by Juan Serrano, Daniel Díaz, and Miguel Reyes, La No Ficción produces investigative, narrative non-fiction, and documentary podcasts in Spanish. It has won five Simón Bolívar awards, Colombia's leading journalism prize.
By the numbers: Its five top podcasts have logged more than eight million listens, with flagship interview show El Topo averaging 50,000 listens per episode. The studio has produced more than 20 shows and worked with Spotify, Podimo, Caracol TV, and Sony Music.
Why now? La No Ficción runs a diversified revenue model spanning branded podcasts, work-for-hire commissions, co-productions, and an IP lab developing original concepts for screen. The money will build commercial capacity: stronger branded-content sales, a documentary pipeline for streaming adaptation, and in-house video production as audiences shift toward watching.
What's the endgame? The Spain move extends the studio's reach into the wider Spanish-language market. "This partnership will allow us to explore different formats, expand internationally and take our storytelling craft to uncharted territories," said co-founder Juan Serrano.
What MDIF says: "It has built a loyal, young audience, diversified revenue streams and innovative co-production models," said Ana Soffietto, program director for Latin America at MDIF. "It is a strong investment for MDIF on both the mission and the business case."
The signal: The deal follows MDIF's May 2025 backing of Brazilian audio-journalism producer Rádio NoveloDealroom has a profile for this one. Try Dealroom →, pointing to a deliberate push into independent podcast businesses in Latin America. Without disclosed terms, it reads less as proof of a podcast-investment boom and more as targeted growth capital for Spanish-language audio journalism.
Read more: mdif.org
Image credit: Generated with Gemini
