Media-focused venture capitalist Ingenious has committed £1.1 million to a two-day music festival featuring musicians from the 1980s.

Media-focused venture capitalist Ingenious has committed £1.1 million to a two-day music festival featuring musicians from the 1980s.

The 80s Rewind Festival has been launched through a new company, Into the Groove, which is a joint venture between festival promoter The Rival Organisation and Ingenious.

Ingenious’s investment is being made jointly from its Live VCTs 1 and 2 and its Entertainment VCTs 1 and 2, and represents the first investment for the latter.

The organisers expect the 80s Rewind Festival to attract 20,000 people. In addition to the main stage, the event will feature funfairs, a comedy tent, street entertainers and a 24-hour cinema showing films from the decade.