Paper Entertainment, the co-producer of Apple TV+ drama Tehran, has secured investment from British broadcaster Channel 4.
Through its Indie Growth Fund initiative, Channel 4 has taken a minority stake in Julien Leroux’s production outfit, which he established in January after serving as the senior VP of global scripted co-productions at Cineflix Media. Financial details were not disclosed.
Leroux executive produced the first season of Tehran after bringing Apple on board as a co-production partner. The series was originally set up at Israeli broadcaster Kan 11. Season 2 of the spy thriller is currently in pre-production, with Apple taking worldwide rights.
Caroline Murphy, head of Channel 4’s Indie Growth Fund, said: “Julien has an infectious passion and drive and is committed to creating high end, quality content.” Leroux added: “Paper Entertainment aims to create global content which is both entertaining and meaningful and we can’t think of a better partner to enable us to achieve this.”
Channel 4 currently has 14 companies in its Indie Growth Fund portfolio. The idea is the broadcaster helps its partners win new business and grow before they exit the scheme. Recent exits include Sex Education producer Eleven, which was acquired by Sony Pictures Television last July.