A new venture capital firm is aiming to raise a £150 million fund this summer to invest in European media, entertainment and media tech companies.

The “Station 12” fund, launched today in London, will be invested in companies ranging from television, film, publishing and live entertainment, through to marketing services, e-commerce, digital content, gaming, fashion and design.

Start-ups across the continent will no doubt welcome the launch as they are underfunded compared to their US counterparts, which have access to significantly larger pools of venture capital. 

Station 12 said it has already identified a pipeline of potential investments, adding that, on average, it will back start-ups with an initial £10 million lump sum in return for a stake of their business. 

Patrick Bradley, founder of Station 12, 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 supported by Ingenious Ventures, an independent investor in the UK’s creative industries since 1998.

Patrick McKenna, chief executive of Ingenious, will act as a strategic advisor to Station 12, continuing his partnership of 13 years with Patrick Bradley.

The European start-up community received another boost earlier this month when London-based venture capital firm Balderton revealed it had raised a $305 million fund to invest in early stage European tech firms.