Ingenious Ventures, a manager of VCTs in the entertainment sector, has completed a GBP1.5 million investment to launch two new music festivals in the UK. Ingenious is already well known as an investor in top dance festival, Creamfields (pictured), amongst others.
This significant investment, which will be used to launch the ‘We the People’ music festival in Bristol and the ‘Shakedown’ Festival in Brighton, is the first investment to come out of Ingenious Entertainment VCT 1 & 2 D-shares. These Ingenious venture capital trusts give music and entertainment fans the chance to invest in their favourite music festivals, live events and TV shows.
Ingenious recently launched the latest offers for its Entertainment VCTs (E&F share offers) which are seeking to raise up to GBP30m to deploy into similar ventures. These share offers are currently open for investment until 5 April 2011 with a minimum investment of GBP3,000.
Launched to the public in March 2011, new music festival ‘We The People’ will take place at Bristol Harbour on the weekend of 4/5 June and will be headlined by top music acts Chase and Status and The Streets. The event will tap into the unique Bristol music scene, championing not only those international artists who are particularly popular in the area, but also the distinctive and original Bristol sound which originated trip-hop in the mid-nineties. Across the two day event, the festival is expected to attract in excess of 10,000 music fans per day in its first year.
Also launched this month is Brighton’s Shakedown Festival, which will play host to some of the world’s best live music acts, including world-famous DJ and producer Mark Ronson. As with the Bristol event this festival aims to champion the local scene in Brighton, and will be a celebration of the diverse and music-loving communities in the bohemian capital of the South coast. The festival is expected to attract 20,000 music lovers to Stanmer Park in Brighton, for the one day event planned from midday to midnight on Saturday 9 July.
Paul Bedford, Investment Director at Ingenious Ventures, says: “At a time when the sales of recorded music have steadily declined, festivals and other live music events have consistently bucked the trend and flourished, making this sector of the entertainment business an excellent investment opportunity.”
Matt Priest, co-creator of the two new festivals and former Head of Radio 1 Live Events says: “We are extremely excited to be working on the UK’s two newest music festivals with Ingenious, as they bring not only essential funding to the project but also a wealth of experience through their partnerships with similar events such as Creamfields, Rewind, and Field Day festivals.”