Forensic Report Affirms Private Funding for Bolsonaro Biopic “Dark Horse”
By Hotspotnews
A forensic analysis commissioned by the film’s producer and recently detailed in a major Brazilian magazine has concluded that the biographical production “Dark Horse,” about former President Jair Bolsonaro, was financed entirely through private investment.
According to the report prepared by expert Anísio Costa Castelo, the total cost of the film reached approximately US$13.3 million—equivalent to a little over R$75 million. Of that amount, the bulk of expenses occurred in the United States, with the remainder spent in Brazil. The Texas-based Havengate fund is identified as the principal investor, having contributed a sum matching the full production cost. The analysis found no evidence of public resources, whether through the Rouanet Law or indirect support via São Paulo municipal contracts linked to the Instituto Conhecer Brasil.
These findings align with statements made by Senator Flávio Bolsonaro, who has maintained from the outset that the project was a private endeavor seeking private sponsorship for a private film about his father’s story. He has repeatedly emphasized that no public money and no Rouanet incentives were involved.
The forensic work, based on invoices and financial records provided by the production company GoUp, has been submitted to the ongoing police inquiry examining questions around the film’s financing. While authorities continue to examine broader aspects of the funding chain, including transfers associated with investor Daniel Vorcaro that flowed into the Havengate vehicle, the expert’s review specifically ruled out the use of taxpayer funds in the production itself.
The report provides documentary support for the position that “Dark Horse” operated as a privately backed cinematic project.
Source: VEJA magazine report, August 25, 2026, citing the forensic analysis by Anísio Costa Castelo.
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