IBIS Capital’s first Media VCT has sold its stake in Quintus Management, the company responsible for the advertising painted on cricket and rugby pitches for televised matches, to sports management and marketing conglomerate IMG.

IBIS Capital’s first Media VCT has sold its stake in Quintus Management, the company responsible for the advertising painted on cricket and rugby pitches for televised matches, to sports management and marketing conglomerate IMG.

This, the VCT’s first exit, represents a 42 per cent uplift on the original £400,000 investment in June last year and an internal rate of return of 53 per cent since then. IBIS’ chairman Sir Robin Miller comments: ‘Although we typically make investments on a three-to-five year time horizon, we are naturally pleased to have achieved a successful exit of our first investment within a year.‘

IBIS, which raised £5.74 million under its original offer for subscription and has raised a further £1.6 million under a further current offer set to close on 27 April, has made only two investments so far, pouring £350,000 into online marketing and media directory Get Me Media.