QIA provides $150-million growth capital to The North Road Company
Los Angeles, Doha, 31 January 2023 – QIA has provided $150 million investment to The North Road Company, the global, multi-genre studio launched in 2022 to support the company’s ongoing expansion strategies.
The investment is part of QIA’s strategy to support the growth of innovative media and tech companies -The funds will be used to further the expansion of the North Road Company
This investment supplements North Road’s significant growth capital reserves, building upon the capital base provided at its launch, including up to $500 million from long-time partner Providence Equity Partners L.L.C. and $300 million in debt financing from Apollo.
“QIA’s investment enables North Road to capitalize further on the growing demand for premium, independent content. Building on the support from Providence Equity, we have already been able to bring together some of the highest-quality suppliers of film and TV content, led by some of the best creative executives in the business. This investment fuels our continuing strategy to expand via organic and inorganic growth initiatives globally,” said Peter Chernin, North Road CEO.
“QIA is delighted to support the expansion of the North Road Company, a market-leading media firm,” said Mohammed Al-Sowaidi, QIA’s Chief Investment Officer of Americas. “This investment underpins our strategy to invest in innovative media and technology companies around the world and advances our long-term partnership with The Chernin Group.”
“QIA is a valued, long-term partner, and we look forward to working with them alongside Peter and the North Road team. We continue to see a tremendous opportunity in a fragmented industry to build a leading global, independent content studio, and this additional capital will help us in our plans to continue to aggressively grow North Road and pursue strategic acquisitions,” said Davis Noell, Senior Managing Director of Providence Equity Partners.
