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Former Ingenious CEO launches fund for disruptive media and entertainment
By Andy Malt | Published on Tuesday 15 April 2014
The former CEO of media and entertainment investment firm Ingenious Ventures, Patrick Bradley, has announced a new fund called Station 12. The new organisation will invest in ‘disruptive’ media, entertainment and media-technology companies.
Announcing the new venture, Bradley said: “This is an exciting time for the European media and entertainment sectors which employ as many as eight million people across the continent. Today, Europe is home to some of the world’s most vibrant creative industries, producing exceptional content and media companies. 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. Station 12 intends to fill this gap and become the pre-eminent investor in the space”.
Station 12 is aiming to raise £150 million from interested investors over the summer, with an initial list of companies in which to invest already identified, all lined up to receive, on average, £10 million.
Initial support from Ingenious has already been announced, its founder and new CEO Patrick McKenna saying: “Patrick and I have worked together for many years – from my days at the Really Useful Group through to our collaboration with Ingenious Ventures. He has worked both operationally in entertainment and as an investor and advisor, giving him a unique skillset and insight into the media and content sectors. I am delighted to see him launch Station 12 and look forward to continuing our relationship into the future, as Ingenious continues to support promising creative businesses”.
Amongst the music ventures Bradley worked on while at Ingenious was Cream Holdings Ltd, the parent company of the Creamfields festival and Cream clubbing brand, which was sold to Live Nation in 2012. It has also invested in other festival brands, such as Field Day and Sound City.
