Channel 4 is planning to take majority stakes in third-party production companies as part of its plan to move into in-house production.

As the UK commercial broadcaster published its annual report on Wednesday, Channel 4 unveiled its Creative Investment Fund, which will back companies with commercial potential.

Jonathan Allan, Channel 4’s COO and incoming interim CEO, declined to reveal the value of the company’s indie investment war chest. Channel 4 has cash reserves of £111M ($150M).

Allan said the Creative Investment Fund would be an evolution of the long-standing Indie Growth Fund, which has taken small stakes in companies including Warp Films, which made Netflix hit Adolescence.

Allan…