Ingenious Music VCT plc raised over £15 million in 2005 making it the largest specialist VCT listed on the London Stock Exchange at the time.
The fund invested in a portfolio of music companies responsible for the creation and exploitation of intellectual property rights in the sector. Working with leading music industry executives, the fund backed 12 artists including emerging singers (Martina Topley-Bird, Indiana Gregg) alongside established acts (Travis, Peter Gabriel, UB40) and also signed a label deal with Peter Gabriel’s Real World Records to sign and release a roster of 15 artists.
In addition to highly attractive tax benefits, the fund offered investors 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 plc is now in the process of returning funds to shareholders.