Channel 4 beefs up growth fund with senior appointments
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Joseph O'Halloran
| 28 November 2014
Making sure that it has both the cash and the wherewithal to best deploy it, Channel 4 has made three new appointments to support its £20 million growth fund venture.
The fund is designed to act as the means for the channel to build towards its next portfolio of investments in the independent creative sector. Launched in the summer of 2014 and targeted at the UK's buoyant independent sector, it will provide access to funding for small to medium-sized creative companies. Each investment is considered to evaluate its growth opportunity, commercial potential as well as its value to the wider UK creative industry. All commercial returns derived from these investments will be used to bolster Channel 4's investment in original content and new companies.
In perhaps the most eye-catching appointment, former controller of BBC One and chief executive of Talkback Thames, Lorraine Heggessey is joining the growth fund advisory board as an external independent expert. The advisory board supervises the work of the Growth Fund team, reviews the performance of the fund and makes recommendations to the Channel 4 corporation board for investments.
Heggessey will additionally creatively mentor the investee companies alongside fellow growth fund advisory board member, Tessa Ross. She will be joined by Pat Younge who joins as a consultant to help identify BAME led companies for potential investment, and Tim Bevan is on board as senior corporate finance manager to assess the viability of potential acquisitions and support completion.
"Less than a year old, our growth fund is already helping some of the most creative individuals achieve their ambitions," said Channel 4 chief executive David Abraham, commenting on beefing up the funding team. "We look forward to working with Lorraine and Pat to help shape our portfolio of investments and support the Channel 4 growth fund to achieve its goal to materially contribute to the future diversity and quality of the UK creative industries."
Heggessey added: "I'm delighted to be working with Channel 4 to support talented emerging indies as they take their companies to the next level. They are the lifeblood of our industry and I look forward to helping them maximise their creative potential to grow thriving businesses."
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