London-based film and TV lending platform Allegro Finance has secured a £2 million ($2.6M) working capital facility from Beechbrook Capital, through funds managed on behalf of the British Business Bank.
The announcement of the facility follows Allegro Finance’s official launch last week of a $500 million credit facility dedicated to film and television production, with entities advised by Elliott Advisors UK Limited.
More from Deadline
Allegro was launched in 2024 by film and TV finance, structured credit and investment banking veterans Jamie Lowe, Peter Touche and Sam Collett.
“This working capital facility is a powerful catalyst for Allegro’s growth and we are grateful for the support from Beechbrook and the funds they manage on behalf of the British Business Bank,” said Collett.
“It enables us to scale the platform and deploy private institutional capital into the UK film and television sector at a level not previously seen. This is precisely how public capital can unlock private investment, support high-growth businesses and strengthen one of the UK’s most globally competitive industries.”
Allegro’s funding line will be deployed across a diversified international slate of film and television productions in line with Allegro’s ambition to become the leading non-bank senior lender to the global screen industries.
Paul Shea, Managing Partner of small and medium-sized businesses lender specialist Beechbrook Capital, said the creation investment was good fit for the funds the company manages on behalf of the British Business Bank.
“All our funds seek to support growth and job creation, and this investment is no different. The UK’s creative industries are a vital part of the economy, employing hundreds of thousands of people and driving significant cultural and economic value,” said Shea.
British Business Bank Managing Director and Co-Head of Funds Adam Kelly pointed to the fact that creative industries are a key part of the UK’s industrial strategy.
“The UK’s creative industries play a vital role in the government’s Industrial Strategy, employing 2.4 million people and contributing £124bn of Gross Value Added to the economy. By providing finance to Beechbrook Capital, and in turn supporting specialist platforms like Allegro Finance, we support businesses to access the finance they need to start, scale and stay in the UK,” he said.