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British broadcaster Channel 4 on Thursday announced three appointments at its $32 million (£20 million) Growth Fund, which has started to invest in independent companies in the creative sector.
Former BBC top executive Lorraine Heggessey joins the fund’s advisory board as an external independent expert. The board supervises the work of the fund, reviews its performance and makes recommendations for investments. Heggessey will also creatively mentor companies the fund invests in alongside fellow advisory board member Tessa Ross.
Heggessey is a former head of the BBC children’s division, was the first female controller of flagship channel BBC One and then led two independent production companies, Talkback Thames and Boom Pictures.
Also joining the Channel 4 fund are Pat Younge, formerly chief creative officer of BBC Television Production, as a consultant to help identify black, Asian, minority ethnic (BAME) led companies for potential investment, and KPMG media M&A expert Tim Bevan as senior corporate finance manager to assess the viability of potential acquisitions.
They will all work with Laura Franses, the head of the fund.
Said Channel 4 CEO David Abraham: “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 U.K. creative industries.”
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