Entertainment investment outfit Ingenious has announced the launch of two new initiatives that will, in total, pump in the region of £30 million into the live events sector. Fund-raising is now underway.
The first venture is a new company to be called Impresario Festivals that has been launched to buy, develop and operate music events, with its first acquisition the nostalgia-fest-franchise Rewind. Ingenious is investing £2 million itself in the new entity, and will look to invest in the region of £4.2 million into music events via Impresario in the coming years.
The second initiative is a new fund called Entertainment VCT H Share, which will look to raise and invest £25 million into music festivals, trade fairs and sporting events.
Confirming the new ventures, Ingenious said in a statement: “The team have identified a significant market opportunity to invest in independent, niche music festivals, which with good management have shown they can outperform their mainstream peers. This is due to their ability to adapt quickly to evolving trends and attract a targeted, loyal following through online and social media channels, all without diluting their brand identity”.
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