The two music-focused VCTs managed by venture capitalist Ingenious Media have invested approximately £500,000 in the second album of British three-piece girl band Sirens. The deal is a joint venture with Newcastle-based independent label Kitchenware Records.

The two music-focused VCTs managed by venture capitalist Ingenious Media have invested approximately £500,000 in the second album of British three-piece girl band Sirens. The deal is a joint venture with Newcastle-based independent label Kitchenware Records.

Described by Ingenious as ‘an exciting fusion of Motown soul and Missy Elliot cool’, Sirens were formed in the late 1990s and signed by Kitchenware in 2002. Their previous album, Control Freaks, was released in 2004, and includes their first single, Things are Gettin’ Better.

Duncan Reid, commercial director of Ingenious, comments: ‘Sirens represent the best of modern British music and are exactly the kind of band which Ingenious is looking to support. They make great music, have a strong, supportive relationship with Kitchenware and have considerable commercial potential.’

Ingenious Music VCT 2 closed in April last year, having raised £26.5 million. This followed the launch of Ingenious Music VCT 1 during the previous year.

So far this year, the music-orientated VCTs have backed album releases by Genesis co-founder Peter Gabriel, dance act The Prodigy and indie rock band Blackbud.