Media-focused VC Station 12 launched by former Ingenious CEO

Fundraising will begin this summer for the firm's first vehicle, which has a £150m target.

Station 12 will back media, entertainment and media technology companies across Europe. The VC's average investment size will stand at around £10m.

The firm will seek opportunities in television, film, publishing, live entertainment, marketing services, e-commerce, digital content, gaming, fashion and design. Station 12 has already identified a pipeline of deals.

Patrick McKenna, founder of Ingenious Ventures, will act as strategic adviser to the company. Established in 2001, Ingenious Ventures is the private equity arm of media company Ingenious.

Last year, Ingenious Ventures sold its stake in Digital Rights Group to Swedish broadcaster Modern Times Group for £13.2m, enjoying a 2x money multiple. The company also led a £900,000 series-A funding round for UK-based online retailer Casabu.

The value of growth capital investments in the media sector increased in 2013, having fallen steadily since 2011. However, the overall volume of these deals dipped last year, according to unquote" data. 

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