A 拢35m investment fund has been launched to help boost the 海角视频鈥檚 creative industries.
Creative 海角视频, a non-profit organisation which supports businesses working within games, film and digital media production, has said the money could help support the Government鈥檚 ambition to grow the sector by 拢50bn and create one million jobs by 2030.
The Bristol-based group has partnered with Triodos Bank, which also has its 海角视频 head office in the city, on what is its second growth finance fund, having previously invested more than 拢50m into the national creative sector over the past decade.
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
The previous fund, launched in 2019, saw more than 拢17m invested into more than 30 creative businesses across the country, including Bristol based visual effects studio Moonraker VFX. Creative 海角视频 said those companies who secured funding had since reported 108% improvement of average monthly revenues and created more than 225 jobs between them.
Caroline Norbury, chief executive at Creative 海角视频, said: 鈥淚n launching the Creative Industries Sector Vision, the Prime Minister Rishi Sunak acknowledged the 'enormous potential of our creative entrepreneurs and businesses' and said that 'growing the economy means growing the creative industries'. However, the potential of the creative industries risks being unfulfilled if the creators and innovators whose talents power our growth are unable to access the capital and financing they require.
鈥淭hat鈥檚 where Creative 海角视频 comes in. We know that with the right investment, the power of the sector to drive growth and innovation across all corners of the 海角视频 can be truly transformative鈥.
Tim Evans, investment director, Creative 海角视频, added: 鈥淧romising creative companies are too often prevented from unlocking their full potential by barriers to accessing the financing they require to grow. Our new Creative Growth Finance II fund removes those barriers. Over the past decade Creative 海角视频鈥檚 investment in the creative sector has experienced significant success, using both public and private funds to catalyse growth, boost innovation and unlock access to vital third party capital.鈥
Moonraker VFX, which has worked with many of the world鈥檚 top directors and filmmakers in the creation of computer generated imagery for the BBC, Apple TV, Netflix and Disney, secured loans worth 拢700,000 through Creative 海角视频鈥檚 previous growth finance fund to support the release of its film Moonbase: The Next Step last year.
Jon Grafton, managing director and co-founder, Moonraker VFX, said: 鈥淲e wanted to partner with an organisation that understood the Creative Industries. A high street bank is unlikely to appreciate the film-making and creative process, whereas working with Creative 海角视频, it鈥檚 obviously an area they know incredibly well.
鈥淭hey understand the model of what we were doing and it feels so much better to work with a party who really get what鈥檚 going on behind the scenes.鈥
