£300 000 Venture Capital Boost

14th December 2006

The £300 000 injection sees Finance Wales, the venture capital arm of the Welsh Development Agency, taking an equity stake in the company, allowing Green Bay to strengthen its commercial operations and set up a full-time development team. Seven new jobs will be created, including three senior level appointments.

Green Bay's creative directors Phil George and John Geraint are excited by the opportunities which the investment creates.

Phil George said: "Green Bay already has a track record of delivering world-class programming to audiences beyond Wales. The new development team will give us the muscle to become a truly significant network and international supplier".

Finance Wales Investment Executive Bethan Cousins, who negotiated the investment, said: "Our research revealed that, in an industry where competition for commissions is fierce and standards are extremely high, Green Bay has distinguished itself as a provider of exceptional programming. They've established that market presence in a remarkably short space of time. The pedigree of the founders is plain to see, and they've allied that expertise with a clear vision of where they want to steer the business".

Green Bay's John Geraint underlined the commercial potential which Green Bay now enjoys: "The new terms of trade give us the scope to exploit the Intellectual Property which our programmes create. Strengthening our commercial arm now with this investment means we can maximise the return on our creativity."

The investment has already been welcomed by one of the industry's most senior figures. Channel 4's Director, Nations and Regions, Stuart Cosgrove said: "Green Bay's strategic development demonstrates they are a company capable of significant future growth and this investment in the company's business will prove to be an important platform for the next phase of the company's development".

Founded in 2001, Green Bay already supplies UK broadcasters with a slate of drama, documentary and arts programmes. Green Bay's hits include The Story of Welsh with Huw Edwards, and the first TV biography of the Archbishop of Canterbury, Dr. Rowan Williams. The company's very first programme, Do Not Go Gentle - a celebration of Dylan Thomas's great poem - reached the finals of the 'Olympics of Television', the 2002 Banff Rockie Awards, one of the world's foremost media prizes.

Finance Wales was created to provide commercial funding for Welsh businesses and community enterprises. It uses resources drawn from the private sector, from European Objective One and Two funds and from the Welsh Assembly Government and the Welsh Development Agency.

Go to the Finance Wales story here.

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