Fantastic Beasts and where to invest in them: Business Growth Fund pumps £2m into visual effects company

 
William Turvill
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Milk Visual Effects has worked on Fantastic Beasts and Where to Find Them, Sherlock and Doctor Who (Source: Getty)

A visual effects company that worked on Harry Potter spin-off Fantastic Beasts and Where to Find Them has pulled in a £2m investment from the Business Growth Fund (BGF).

Milk Visual Effects, which has also worked on Sherlock and Doctor Who, said it would use the investment to expand its studios.

The firm, which was founded in 2013 and now has 150 staff across sites in London and Cardiff, will also invest in new technical equipment and research and development (R&D).

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In addition to the funding, BGF also introduced the Milk team to former Pinewood Group chief executive Ivan Dunleavy, who will sit on the board as non-executive chairman.

Milk chief executive Will Cohen said: “Our new partnership with BGF and the appointment of Ivan Dunleavy as chairman will help us to deliver the most challenging and creative visual effects work for the global feature film, high end television and emerging digital content markets.

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“We look forward to building on our success over the last four years – which is testament to the dedication and expertise of our team at Milk. It’s a wonderful way to begin our fifth year in business.”

BGF was founded in 2011 to investment in growing small and medium-sized firms in the UK. The investor is itself backed by Barclays, HSBC, Lloyds, RBS and Standard Chartered.