Ingenious, an alternative investment manager that specialises in the media sector, has launched Ingenious Vision VCT which will seek to provide early-stage funding to unquoted companies with high growth potential that develop, produce or exploit television and other forms of audio-visual content.
Ingenious is looking to raise an initial GBP10 million with a minimum subscription of GBP3 million. The VCT will seek to pay target dividend of 5p per Ordinary Share per annum commencing from July 2022 with the potential to pay special dividends if investments generate a significant profit or are realised with a substantial gain.
Ingenious will provide investors access to unquoted companies with considerable growth potential across the media and entertainment sectors whilst enabling them to benefit from the investment incentives of a VCT. Individuals should receive 30 per cent up front income tax relief on investments of up to GBP200,000 a year, as well as tax-free dividends and capital gains.
The Offer is now available and may close at any time but no later than 5 April 2019 in relation to the 2018/19 Offer and 31 July 2019 in relation to the 2019/20 Offer. Ingenious will offer an Early Investment Incentive discount to the Promoter’s Fee of 1.5 per cent of the monies subscribed under the Offer for applications received before 31 January 2019 and 1 per cent before 28 February 2019.
The UK is acknowledged as a world leader in television production and broadcasting, creating programmes and TV formats that are watched around the globe. Total revenues from the UK television production sector reached just over GBP2.5 billion in 2016.1 International TV drama continues to go from strength-to-strength and audiences’ appetite for bigger, bolder projects is growing.
In addition, the UK is the largest audio-visual market in Europe both in terms of revenue and Gross Value Added (GVA), the latter being 20 per cent larger than Germany and 50 per cent larger than France.
Ingenious has deep sector expertise and specialist capabilities to tap into this growing market, with extensive deal flow ready for investment.
Will Harrison, Managing Director of Media at Ingenious, says: “We’re delighted to announce the launch of Ingenious Vision VCT. Since the launch of the first Ingenious VCT in 2004, our specialist team has raised and managed over GBP75 million. All our VCTs are carefully managed by a team with proven experience in promoting, structuring and managing investment opportunities across the media and entertainment sectors. We believe that lifestyle changes, de-regulation and technological advances in the digital space have created excellent investment opportunities for knowledgeable investors. VCT fundraising levels continue to rise and we are very well placed to offer a unique chance to participate in an exciting and thriving area of the UK economy.
“VCTs play a really important role in supporting UK business and we are looking forward to partnering with more firms and adding value. Over many years, Ingenious has developed an unrivalled reputation for its specialist knowledge of these industries, and we are well placed to take advantage of these changes.”