Former Ingenious boss heading new media investment firm

Patrick Bradley (left) will head up Station 12, a new media and entertainment investment firm that will sink funding into fast-growing companies in the sector.

Bradley is the former boss of Ingenious Ventures, the private investment business that has backed 19 Entertainment and DRG among others. Patrick McKenna, the entrepreneur behind Ingenious, will advise the new firm.

The founders of Station 12 claim it is the only investment company in Europe providing capital for fast-growing media companies to expand. It will work across TV, film, publishing, gaming and events sectors.

The London-based fund aims to raise £150 million (US$251 million), commencing its first fundraise this summer. The investment team has already identified a pipeline of potential investments, into which the average initial investment will be about £10 million.

The company, which launched this month, said it has identified a gap in European media and entertainment financing, which is holding back growth across the continent. There are plenty of options for media start-ups seeking funding, but none for companies reaching the next stage and seeking follow-on investment.

“Unlike the European technology market, which has deep resources of expansion capital, our media and entertainment sectors remain under-served by capital and operational expertise required to support long term success,” Bradley said. “Station 12 intends to fill this gap and become the pre-eminent investor in the space.”