Channel 4's Growth Fund bolstered by senior appointments

27 November 2014

Channel 4 today announced it has made three new appointments to support its £20m Growth Fund venture as it builds towards its next portfolio of investments in the independent creative sector.

Lorraine Heggessey joins 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. Lorraine will additionally creatively mentor the investee companies alongside fellow Growth Fund Advisory Board member, Tessa Ross.

Pat Younge joins as a consultant to help identify BAME led companies for potential investment – and Tim Bevan joins as Senior Corporate Finance Manager to assess the viability of potential acquisitions and support completion.

Alongside Laura Franses, Channel 4’s Head of Fund, Lorraine, Pat and Tim will bring their wealth of experience from their fields of expertise to the Growth Fund.

Lorraine is a prominent figure in the media industry with extensive experience in journalism, broadcasting and production. Across her career, Lorraine has produced high profile current affairs series; headed up Children’s BBC; became the first female Controller of BBC One; and has led two successful independent production companies. Previously Chief Executive of Talkback Thames, Lorraine launched Boom Pictures (now Twofour Group) in July 2012 and grew it to become the eighth largest indie production group in the UK in under two years following a series of acquisitions and start-ups including new drama indie Mainstreet headed up Laura Mackie and Sally Haynes, and Graham Linehan’s comedy label, Delightful Industries.

Pat was Chief Creative Officer of BBC Television Production and prior to this, president/general manager of award-winning US cable business, Travel Channel Media. Throughout his 23 year career in journalism and broadcasting which has included various roles across the BBC, ITV and Channel 4 where he was Commissioning Editor for Multicultural Programmes, Pat has campaigned to improve cultural diversity in television. In January this year, Pat launched Wecreate Associates, a consultancy that focuses on creative leadership, innovation and technology.

Tim joins from KPMG where he was an associate director focused on media M&A. He has over 12 years media corporate finance experience having worked across a range of media deals at KPMG including Equistone’s investment into post-production company The Mill and LDC’s investment into international events business, WRG. Prior to KPMG, Tim was part of the media M&A team at LongAcre Partners and Jefferies. Tim qualified as a chartered accountant with PWC following reading Modern History at University College, Oxford.

David Abraham, Chief Executive of Channel 4 said: “Less than a year old, our Growth Fund is already helping some of the most creative individuals achieve their ambitions. 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.”

Laura Franses, Head of Fund at Channel 4 said: “The Growth Fund is itself growing fast and taking shape. Tim has joined in-house to help evaluate a wealth of interesting companies coming forward for investment. Post investment, we’re delighted to be able to offer our companies incredible creative resources in the shape of Lorraine and Pat alongside Tessa to help them develop to the next level.

“We’re committed to helping our invested companies grow in exciting ways with our support, while they continue to retain their autonomy and ownership.”

Lorraine Heggessey said: “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.”

Pat Younge comments: “A truly modern British TV industry needs racial diversity in all areas, including the ownership and leadership of production companies in the indie sector. The BAME part of the indie sector has been marginalised and overlooked for too long, but has within it a range of companies trying to bring attention to stories and storytellers that are otherwise unheard.

“So it's a privilege to work with Channel 4's Growth Fund to help identify talented BAME producers to receive these unique investments – which I hope in turn will inspire the wider BAME community to realise what’s possible and show other investors the opportunities they've been missing.”

Tim Bevan said: “I’m delighted to be joining the Growth Fund team and to be part of such an exciting initiative. I look forward to helping support the independent sector through the fund.”

Channel 4 has just announced it has taken a minority stake in British drama, factual and comedy production company, Eleven Film. It has already identified other companies for investment – including Nations and BAME led businesses – and expects to make its next announcement by the end of Q1 2015.

UK based companies can register their interest in the Growth Fund via growthfund@channel4.co.uk

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