The UK’s first outdoor camping jazz festival has received a £2 million investment from The Ingenious Entertainment VCTs.

The UK’s first outdoor camping jazz festival has received a £2 million investment from The Ingenious Entertainment VCTs.
 
Love Supreme Jazz Festival, which is set to take place in Brighton during the summer of 2013, is being launched by radio station Jazz FM and Neapolitan Music, alongside Ingenious.
 
The investment comes a month after Ingenious exited its interest in the Creamfields music festival for a total of £2.8 million, three years after committing £1.7 million to the event.
 
Paul Bedford, investment director at Ingenious, says, ‘At a time when sales of recorded music are in decline, the UK festival market continues to buck the trend and expand, making this sector of the entertainment business an excellent investment opportunity.’
 
The Ingenious Entertainment VCTs recently launched its latest share offering, and is seeking to raise £25 million to invest in similar ventures. The share offer is currently open for investment until 5 April 2012 with a minimum investment of £3,000.
 
The VCTs are currently invested in 80s music event Rewind Festivals and food offering Taste of Christmas.
 
Yoel Kenan, managing director at Jazz FM, says that the radio station has been promoting live events around the country for the last two years.
 
He adds; ‘We’re delighted to be partnering with Ingenious to take this natural step to launch a three day festival that will cater to a wide audience in the very finest jazz, soul, and blues.’