Channel 4 invests in Tehran prodco Paper

Commercially funded UK public broadcaster Channel 4 has taken a minority stake in Paper Entertainment, the London-based firm behind Apple TV+ drama Tehran.

Julien Leroux

C4’s Indie Growth Fund is backing the company which was set up recently by Julien Leroux to develop, finance and produce TV content in partnership with talent and producers around the world.

Paper Entertainment is a coproducer on the second season of Apple TV+ global hit Tehran, which is currently in pre-production. Leroux was an executive producer on season one and struck the copro deal with Apple in his previous role as senior VP of global scripted coproductions at Canada-based Cineflix.

Caroline Murphy, head of C4’s Indie Growth Fund, said: “Julien has an infectious passion and drive and is committed to creating high-end, quality content. We’re really excited about the future of Paper Entertainment and we believe Channel 4’s investment will help propel Paper Entertainment to become a real success story.”

Leroux, Founder and CEO of Paper Entertainment, added: “It is an honour to partner with Channel 4 and the amazing team at the Indie Growth Fund. 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.”

In addition to Tehran, Leroux has developed projects with producers including Clerkenwell Films, Broadway Video, Hera Pictures and Bryncoed Productions.

He was also responsible for identifying, acquiring and launching dramas for distributor Cineflix Rights, including Icelandic political series The Minister, breakthrough Russian thriller An Ordinary Woman and multi-award-winning Berlinale Series 2020 official selection Happily Married, alongside Canadian procedural series Coroner.

C4’s Indie Growth Fund provides additional support to the local independent creative sector by investing in UK-based small and medium-sized enterprises, taking minority stakes to help them to grow their business to the next stage.

The addition of Paper Entertainment takes the current portfolio of companies in the Indie Growth Fund to 14, with six having joined since 2020.

The fund’s future strategy is focusing on prioritising investment in the UK nations and regions and diverse-led and digital businesses nationwide.