Ingenious Music VCT 2 plc closed on the 5th April 2006 raising £26.5 million making it the largest specialist VCT listed on the London Stock Exchange at the time. This was our second offering in the music industry following the successful launch of Ingenious Music VCT plc earlier in 2005.
The fund invested in a portfolio of companies responsible for the creation and exploitation of intellectual property rights in the sector. Working with leading music industry executives, the fund made 26 investments backing a wide variety of exciting music acts including emerging singers such as Charlie Winston and established acts like The Prodigy, Travis and Peter Gabriel. The fund also signed label deals with Peter Gabriel’s Real World Records and ie:music, as well as backing a number of retrospective DVD releases from artists such as John Lennon and Duran Duran.
In addition to the highly attractive tax benefits available, the fund offered significant downside protection as well as the ability to generate significant additional income from the worldwide exploitation of artists' recording and ancillary rights. Created as a limited life VCT with a time horizon of 3 years, Ingenious Music VCT 2 plc is now in the process of returning funds to shareholders.