River Capital has announced a six-figure investment into Manchester-based virtual production company, SilverScape.
The funding comes from NPIF II – River Capital & GC Business Finance Smaller Loans, which is managed by River Capital & GC Business Finance as part of the Northern Powerhouse Investment Fund II.
SilverScape was established in September 2021 by experienced communications industry professionals Ian Armstrong and Simon Binns – Armstrong is a former global marketing director for Jaguar Land Rover, while Binns is formerly a director at global agencies BBH and Ogilvy/ WPP – and is now based at VERSA on the former Granada Studios site. The firm is pioneering the use of cutting-edge creative technologies including Virtual Production for advertisers and filmmakers.
The business combines a range of creative technologies including LED walls, camera tracking and game engine software to enable customers to push creative boundaries. The scenes can take place in locations across the globe without ever leaving the studio. By combining the latest innovations in process and shooting methods they can offer services that reduce costs and carbon usage compared to traditional location filming.
The new funding injection will enable SilverScape to accelerate its marketing efforts, with a strong focus on strategic branding and content.
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The investment will also support SilverScape’s business model, which includes studio rental, virtual production services, analytics, immersive live experiences and post-production services. In collaboration with local universities, SilverScape will also be supporting entry-level roles into the industry.
Using local suppliers, the company is continuing Manchester’s growth in digital and creative excellence whilst maintaining proximity to the flourishing Liverpool production scene. With partnerships secured with major broadcasters including ITV, SilverScape is positioning itself at the forefront of sustainable film and advertising production.
Ian Armstrong, executive chairman of SilverScape, said: “This additional support from River Capital comes at a crucial time as we scale our operations in the North West to meet unprecedented national and international demand. Our technology enables brands to improve their production efficiency whilst also reducing their carbon emissions by up to 70% whilst maintaining the highest production values.”
Sue Chambers, Investment Manager at River Capital Management, added: “SilverScape represents exactly the kind of innovative and sustainable business we’re looking to support through NPIF II. The exceptional response to their launch event and the substantial pipeline of opportunities they’ve already developed in just a few months demonstrate the market demand for their services.”
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
