Top Up TV Holdings Ltd (United Kingdom) - Oct 2007

In a second round of funding, Balderton Capital has invested an undisclosed sum in Top Up TV Holdings Ltd, the operator of a pay TV service on UK digital terrestrial television (DTT) platform Freeview, in return for a minority stake. The company previously received financing from Access Industries, which remains the majority shareholder. The deal was sourced through David Chance, Top Up TV’s chairman and former head of BSkyB, who has known Balderton Partner Tim Bunting since his former company Goldman Sachs floated Sky in 1996. The new funding will be used to drive organic growth and explore international opportunities in the DTT sector.

Company

London-based Top Up TV holdings was founded in 2003 and launched the Top UP TV service in March 2004, which offers a series of additional pay channels to the standard Freeview package on a subscription basis. The company has recently launched Top Up TV Anytime, which allows viewers to watch programmes from up to 20 pay TV channels as well as to subscribe to PictureBox, a premium movie service, and Setanta Sports. Freeview is currently available in more than 12.9 million UK homes, with this figure expected to rise substantially as the country moves towards the completion of the digital switchover in 2012.

People

Tim Bunting led the deal for Balderton and will join the Top Up TV board. David Chance is the chairman of the company.

Sourced from: UK & Ireland unquote" 355 (Oct 2007)

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• UK / Ireland
• Expansion
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• United Kingdom